January 24, 2019 / 12:38 PM / 2 years ago

BA-owner IAG says it won't make a bid for Norwegian

LONDON, Jan 24 (Reuters) - British Airways owner IAG won’t make a bid for Norwegian Air Shuttle, the airlines group said on Thursday, and will sell its remaining stake in the company.

“International Airlines Group (IAG) confirms that it does not intend to make an offer for Norwegian Air Shuttle ASA (Norwegian) and that, in due course, it will be selling its 3.93 per cent shareholding in Norwegian,” IAG said in a statement.

Shares in Norwegian dropped 20 percent after IAG’s statement, while shares in IAG rose. (Reporting by Alistair Smout, additional reporting by Terje Solsvik in Oslo and Helen Reid in London, Editing by Paul Sandle)

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