Iberia confirms discussing BA merger terms

MADRID, Nov 12 (Reuters) - Spanish airline Iberia (IBLA.MC) confirmed on Thursday that its board is discussing a merger with British Airways (BAY.L) that would give the Spanish firm about 45 percent of the new company and BA about 55 percent.

"No decision has been taken and there are no guarantees that a deal will be reached," Iberia said in a statement.

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(Reporting by Tracy Rucinski; Editing by Elisabeth O'Leary)