Spain stock market to lift Vueling trade ban at 1430 GMT

MADRID Thu Nov 8, 2012 2:14pm GMT

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MADRID Nov 8 (Reuters) - The trading ban on shares of Spain's Vueling will be lifted at 1430 GMT, stock market regulator CNMV said on Thursday, following news of a takeover bid.

Trading was suspended late Wednesday after the International Airlines Group said it was considering a takeover of the low-cost carrier.

IAG, formed by the merger of British Airways and Iberia, on Thursday said it had made a formal offer to buy the 54.15 percent of Vueling that it doesn't already own at 7 euros per share.

Vueling was last trading down 4.4 percent at 5.47 euros.