15-Sep-2010 1:38 PM

Iberia 'can't confirm' reports of BA/Iberia-LAN/TAM share swap

Iberia spokesman Santiago de Juan stated British Airways and Iberia are focused on their impending merger and “can’t confirm anything” regarding reports of a planned share swap with LAN Airlines and TAM (Bloomberg, 14-Sep-2010). It has been reported that LAN and TAM executives are in London studying the possibility of an agreement with British Airways involving a potential 5-10% stake swap (Diario Financiero, 14-Sep-2010). In Aug-2010, LAN Airlines and TAM entered into a non-binding MoU that outlined their intentions to combine their holdings under a single parent entity.

Iberia: “Everything related to the story is just speculation. We are focused on merging with BA. Our strategy in Latin America remains the same – to keep on growing,” ,Santiago de Juan, spokesman. Source: Bloomberg, 15-Sep-2010.