IAG's revised offer for Vueling gets regulatory approval

International Airlines Group (IAG) has received regulatory approval for its revised offer for Spanish carrier Vueling.

International Airlines Group (IAG) has received regulatory approval for its revised offer for Spanish carrier Vueling.

The parent company of British Airways said on Thursday it was given the green light from Spain's National Securities Market Commission.

The revised offer is for €9.25 per share for a minimum 4.16% of Vueling's capital.

IAG's Spanish subsidiary Iberia owns 45.85% of Vueling shares but will not participate in the offer. Vueling would remain a standalone unit within IAG.

The offer is open until April 19th, which extends the acceptance period by nine days to allow Vueling shareholders more time to assess.

The takeover of Vueling is part of IAG's overhaul plan of its Spanish operations after Iberia unit pushed the group to a €23m loss last year.

RD

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