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Spain's Bankia says to sell IAG stake within four years
November 28, 2012 / 1:20 PM / 5 years ago

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

MADRID (Reuters) - Spanish nationalized 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.

Reporting By Jesus Aguado; Writing by Tracy Rucinski, Editing by Sarah White

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