June 14, 2018 / 11:34 AM / 9 months ago

IAG CEO says would not participate in bidding war for Norwegian

FILE PHOTO: Willie Walsh, CEO of International Airlines Group speaks during the closing press briefing at the 2016 International Air Transport Association (IATA) Annual General Meeting (AGM) and World Air Transport Summit in Dublin, Ireland June 3, 2016. REUTERS/Clodagh Kilcoyne

LONDON (Reuters) - British Airways-owner IAG (ICAG.L) will not become involved in any bidding war for Norwegian Air Shuttle (NWC.OL), the group’s chief executive told shareholders at its annual meeting on Thursday, adding it was not a must-do deal.

Norwegian said in May that it had rejected two approaches from IAG, the owner of British Airways, Iberia, Aer Lingus and Vueling, because they undervalued the company.

“We remain open-minded about Norwegian – this is not a deal that we have to do and we will certainly not get involved in a bidding war,” IAG’s CEO Willie Walsh told the group’s meeting which was held in Madrid.

Reporting by Sarah Young, editing by James Davey

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