British Airways owner IAG (LON:IAG) has acquired a 4.61% stake in Norwegian Air Shuttle and is considering buying the whole kit and caboodle.
The minority investment is intended to establish a position from which to initiate discussions with Norwegian, including the possibility of a full offer for Norwegian, IAG said in a stock market statement.
As of yet, no discussions between the two airlines have taken place.
IAG says in statement has bought 4.6 pct of Norwegian, intends to use as a base to start talks regarding a full offer
— Victoria Bryan (@vl_bryan) April 12, 2018
British Airways owner (IAG) is considering a bid for Norwegian Air Shuttle.
If IAG would buy Norwegian this would be the fleet of all IAG brands (BA, D8, DI, DY, EI, IB, VY) pic.twitter.com/DgcpGCWmyl
— Flightradar24 (@flightradar24) April 12, 2018
IAG said it considers Norwegian to be an attractive investment.
Shares in Norwegian Air Shuttle ASA were up 46% at €27.30 in lunchtime trading.