Spain's Bankia says to sell IAG stake within 4 years

MADRID Wed Nov 28, 2012 8:17am EST

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MADRID Nov 28 (Reuters) - Spanish nationalised lender Bankia said it plans to sell its 12 percent stake in the International Airlines Group (IAG) within four years, Chairman Jose Ignacio Goirigolzarri said on Wednesday.

Bankia is shedding 50 billion euros of assets as part of restructuring plan. IAG is the owner of British Airways and Iberia.

Meanwhile, Bankia's managing director Jordi Sevilla said the bank's public debt holdings would fall to 30 billion euros from 40 billion currently.

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