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MADRID, April 8 (Reuters) - Spanish company Grupo Empresas Matutes will not launch a counter takeover offer for low-cost airline Vueling, the group said in a statement to the stock market regulator on Monday.
Vueling is currently subject to a takeover bid from the International Airlines Group and recently there have been rumours Matutes could make a counter offer.
IAG raised its offer for Vueling to 9.25 euros ($12.04) per share after the Barcelona-based airline rejected its initial price of 7 euros per share. ($1 = 0.7682 euros) (Reporting by Clare Kane; Editing by Julien Toyer)