Press: Iberia sets share offer for buyout

Iberia will only open its books to offers above 4 euro a share, as core shareholders prefer to hold on to their stakes rather than to sell cheaply, Cinco Dias reported, citing unnamed shareholder sources. Separately, Expansion cited unnamed sources close to the operation as saying that the consortium led by TPG Capital and British Airways PLC could lose interest in Iberia if the airline does not soon agree to open up its books, Expansion reported.

The consortium is reportedly mulling a 3.60 eur a share bid for the Spanish flagship.

According to Expansion, Iberia is bringing forward to July 12 its board meeting, originally scheduled for July 26, to discuss the matter.