Press: Apax may create Iberia bid vehicle

Buyout firm Apax Partners is in talks with Air France-KLM and Deutsche Lufthansa AG about a potential £2.3 blillion takeover bid for Iberia Lineas Aereas de Espana SA, the Daily Telegraph reported. The paper cited people familiar with the situation as saying talks are at a very early stage and might not lead to an agreement.

The news comes after yesterday’s comments from Air France-KLM chief executive Jean-Cyril Spinetta, who told reporters at a news conference that the group is not in talks with Iberia.

Meanwhile, the Times reported that a key Iberia sharehodler, Caja Madrid, has asked Credit Suisse to seek rival offers for the Spanish airline amid concerns that the approach led by British Airways is too low.