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JP Morgan to advise Iberia on tie-up with British Airways

Nov 05, 2009 (M2 EQUITYBITES via COMTEX) --

Companies: British Airways, PLC (BAIRY), J.P. Morgan Chase & Co. (JPM)

5 November 2009 - Spanish flag carrier Iberia (MCE:IBLA) has hired US bank JP Morgan Chase (NYSE:JPM) to counsel it in its projected tie-up with British Airways (LON:BAY), or BA, daily Expansion reported yesterday quoting sources close to the deal.

The move may intensify the negotiations that have been underway for over a year, according to the sources.

Iberia has also selected Morgan Stanley (NYSE:MS) as an advisor, while Swiss bank UBS (NYSE:UBS) counsels BA in the talks.

The Spanish company launched the merger negotiations with BA in July 2008 in a bid to set up an alliance that will profit from Iberia's position in Latin America and BA's market in North America and Asia.

In October BA's CEO Willie Walsh said that his company is optimistic the carriers will finalise the deal before the end of 2009. 

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News Provided by COMTEX

Companies: British Airways, PLC (BAIRY), J.P. Morgan Chase & Co. (JPM)


Related terms: advisor, asia, carrier, ceo, expansion, market, north america, nyse, profit

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