Spanish regulator approves IAG's Vueling offer

Spanish regulator approves IAG's Vueling offer

A revised offer for Spanish budget carrier Vueling by British Airways and Iberia parent International Airlines Group has won the green light from the country’s regulator.

Spain's National Securities Market Commission has approved the bid at €9.25 per share.

Iberia owns 45.85% of Vueling shares and will not participate in the offer.

The offer acceptance period has been extended by nine days to April 19 so that Vueling shareholders have more time to assess the revised offer, IAG said.

IAG increased its offer for Vueling a week ago after the Barcelona-based airline’s shareholders rejected an original bid of €7 a share which valued it at €209 million.

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