IAG confirms interest in buying stake in Portugal's TAP

(Sharecast News) - British Airways and Iberia owner IAG confirmed on Friday that it has submitted a formal expression of interest in buying a minority stake in Portugal's flag carrier TAP. An IAG spokesperson told Reuters that the company - which also owns Aer Lingus and Vueling - has submitted a statement of interest to state-owned holding company Parpublica, "in line with the government's process for the part-privatisation of TAP".

"However, several terms would need to be addressed before IAG could propose an investment," the spokesperson added.

Earlier this week, both Air France-KLM and Lufthansa confirmed their interests in bidding for a stake in TAP.

At 1425 GMT, IAG shares were down 0.6% at 380.20p.