Iberia board split ahead of sale decision -sources

(Reuters) - LONDON, June 15 - Board members of Spanish airline Iberia are divided over whether to sell the company as they prepare to make a decision in about two weeks, people familiar with the situation said. Iberia has received a takeover bid valuing the carrier at 3.4 billion euros from a group that includes private equity firm TPG [TPG.UL] and minority shareholder British Airways . The board plans to vote on June 28.



"There's lack of definition in the board," one of the sources close to the negotiations said. "It's a complex board, and this isn't an easy case. It's a difficult industry. It's not like there's going to be lots of offers or that there's a list of people interested. You can't really wait for a bidding war."


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Apax contacts Gestair for joint Iberia bid -paper

(Reuters) - "Gestair believes Iberia has a lot of potential and would be a good investment in the medium term although it is waiting for a formal proposal from Apax," the sources told the newspaper.

Apax could gain from securing a Spanish partner since Iberia's rights to fly to Latin America are based on the majority of Iberia's capital remaining Spanish, the paper said.


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Iberia tells govt TPG only wants a stake -source

(Reuters) - No-one at Iberia was available to comment on Sunday.

Iberia said in a statement on Friday that U.S.-based Texas Pacific group was interested in all the airline's share capital, and had asked to look at the airline's books regarding a possible 3.60 euros cash per share offer for all the shares.


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Apax considering counterbid for Iberia -- sources

(Reuters) - Apax declined to comment.




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TPG swoops on Iberia with $4.5 bln approach

(Reuters) - The cash approach, at an indicated price of 3.6 euros per share, is below the price range mooted in media reports and by analysts in recent days of up to 4.4 euros per share.

Iberia shares have risen 25 percent in the last 10 days on bid speculation and closed at 4.0 euros on Thursday.


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Iberia gets 3.6 euros/share bid approach from TPG

(Reuters) - The cash approach, at an indicated price of 3.6 euros per share, is below Iberia's closing price on Thursday of 4 euros and below a price tag mentioned by media reports and analysts of up to 4.4 euros per share.

By 0702 GMT Iberia shares were down 3 percent at 3.88 euros


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