Vueling rejects IAG takeover offer
MADRID, March 7
MADRID, March 7 (Reuters) - The board of Spanish low-cost airline Vueling on Thursday recommendended that shareholders reject a takeover offer from International Airlines Group .
The members of the board said the offer of 7 euros per share did not reflect the value of the company.
IAG owns 45.85 percent of Vueling, whose shares closed at 7.85 euros on Thursday.