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Lufthansa falls on market talk of stock placement
January 15, 2013 / 8:36 AM / 5 years ago

Lufthansa falls on market talk of stock placement

LONDON/FRANKFURT, Jan 15 (Reuters) - Shares in German airline Lufthansa were among the worst-performing blue-chip stocks in Europe on Tuesday as three traders cited market speculation of a placement of shares in the company.

The traders cited market rumours that Lufthansa shares were being placed at 14.43 euros a share. One trader said the rumoured placement was being handled by UBS.

Lufthansa shares were down 2.2 percent at 14.32 euros by 0820 GMT, underperforming a 0.3 percent decline on Germany’s benchmark DAX equity index.

Officials at Lufthansa said they could not comment on trades made by shareholders. A spokeswoman at UBS’ media relations department in London had no immediate comment on the matter.

A person familiar with the matter said BayernLB was selling a stake in Lufthansa of about 2 percent to comply with European Union demands. BayernLB had no immediate comment. (Reporting by Sudip Kar-Gupta, David Brett, Arno Schuetze, Hakan Ersen and Maria Sheahan)

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