TIMELINE - Key dates in British Airways-Iberia talks

(Reuters) - British Airways Plc is in merger talks with Spain's Iberia about an all-share tie-up to create the world's third biggest airline.

Following are key dates in talks between BA and Iberia:

October 27, 1998 - BA confirms it has agreed to take a stake in Iberia alongside American Airlines. Spanish company SEPI, which owns Iberia, says the deal is for BA to buy a stake of between 8.2 and 9.1 percent.

December 10, 2003 - BA and Iberia win approval from the European Commission to operate a proposed alliance in the European Union.

June 24, 2004 - Iberia announces plans to start joint accounts with BA on routes between Spain and Britain.

September 8 - BA raises about 425 million pounds by selling its stake in Australia's Qantas Airways, sparking renewed speculation that it might increase its 9 percent stake in Iberia.

November 15, 2006 - BA says it has purchased American Airlines' stake in Iberia for 19 million euros (15 million pounds), raising its stake in the Spanish carrier to about 10 percent.

March 30, 2007 - BA appoints UBS to advise it on its 10 percent holding in Iberia, following news that private equity firm Texas Pacific Group (TPG) had made a 3.4 billion euro bid approach for Iberia.

April 23, 2007 - BA rules out making an independent bid for Iberia, instead siding with a consortium led by TPG.