Press: TPG may pull out of bid for Iberia

Texas Pacific Group may abandon a proposed 3.4 billion euro bid for Iberia after partner British Airways demanded the involvement of a rival private equity firm, The Times reported citing unnamed sources. The newspaper said BA is pushing for the inclusion of Apax Partners in the TPG-led consortium bidding for Iberia, which would leave no serious competition to the bid and protect BA’s operational ties with the Spanish group.