• Most Popular
  • Most Shared

UPDATE 1-BA's Walsh wants at least 53 pct of BA/Iberia group

Tue Jul 14, 2009 9:51am EDT

Stocks

   

* Says looking forward to merger talks with new management

* No formal discussions held yet

(Adds details)

LONDON, July 14 (Reuters) - British Airways (BAY.L) Chief Executive Willie Walsh has reiterated that he is not prepared to accept a less than 53 percent split of a proposed combination of BA and Iberia (IBLA.MC).

Walsh also told reporters following the airline's annual general meeting that he was looking forward to holding merger discussions with the new Iberia management, following the resignation of ex-CEO Fernando Conte last week.

"I've not held formal discussions with them yet, but look forward to meeting with them," said Walsh.

BA said earlier on Tuesday that it is considering launching a convertible bond, not a rights issue to shore up its balance sheet. [ID:nLE380967]

(Reporting by John Bowker; Writing by Lorraine Turner; Editing by Matthew Scuffham)



More from Reuters

Photo

U.S. retailers open past midnight in holiday push

NEW YORK (Reuters) - In the nights before Christmas, some U.S. retailers are opening their doors round the clock to wring out every last possible holiday sale. | Video

» More Top News
A glass of water taken from a residential well after the start of natural gas drilling in Dimock, Pennsylvania, March 7, 2009. Dimock is one of hundreds of sites in Pennsylvania where energy companies are now racing to tap the massive Marcellus Shale natural gas formation. REUTERS/Tim Shaffer

Not in my watershed: NYC

The biggest U.S. city wants the state to ban one of the most promising sources of U.S. energy -- and also one of the most contentious.  Full Article 

Green Business
Cannabis sativa plant is seen in Buenos Aires, August 21, 2009. REUTERS/Enrique Marcarian
Bernd Debusmann:

Obama, drugs, common sense

American attitudes towards drug prohibition – and above all, punitive laws on marijuana – are changing too fast for policymakers and legislators to ignore.  Commentary 

U.S.