British Airways and Iberia parent IAG flew higher after ditching its rule to impose a limit on non-EU shareholders.
17 January 2020 13:28:22
Source: Sharecast
In February last year, IAG said it was fixing the maximum permitted ownership by non-European Union entities at 47.5% in order to keep its status as a European-owned airline.
However, the company said on Friday that non-EU ownership had fallen to 39.5%. As a result, IAG has removed the cap.
"The IAG board will continue to monitor the relevant non-EU persons ownership level," it said. "Under Article 11 of IAG’s bylaws, the board is authorised to re-impose the permitted maximum at any time if necessary."
IWeb is not responsible for the content and accuracy of the Markets News articles. We may not share the views of the author. Understand the risks, please remember the value of your investment can go down as well as up and you may not get back the full amount you invest. We don't provide advice so if you are in any doubt about buying and selling shares or making your own investment decisions we recommend you seek advice from a suitably qualified Financial Advisor. Past performance is not a guide to future performance.
