May 16, 2019 / 12:17 PM / in 2 months

Norwegian Air shares surge after report of renewed takeover interest

FILE PHOTO: Grounded Boeing 737 Max 8 passenger plane of the Norwegian low-cost airline Norwegian is seen parked on the tarmac at Helsinki Airport in Vantaa, Finland March 13, 2019. Lehtikuva/Heikki Saukkomaa via REUTERS

OSLO (Reuters) - Norwegian Air shares rose 28% on Thursday following a report by Spanish business daily Expansion that the budget carrier could again become the target of takeover offers.

Britain’s IAG, the owner of British Airways, earlier this year sold its stake in Norwegian and said it was no longer interested in an acquisition.

Citing “sources in the market”, the Expansion report said investors are taking positions in Norwegian Air ahead of a possible takeover. The report did not give further detail.

Shares in Norwegian Air were trading up 14% at 1204 GMT after rising as much as 28% earlier in the session.

IAG declined to comment. Norwegian Air was not immediately available for comment.

Reporting by Terje Solsvik and Victoria Klesty in Oslo, Alistair Smout in London and Belen Carreno in Madrid; Editing by Gwladys Fouche and Deepa Babington

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