IAG, Iberdrola prepare for Bankia sale of corporate stakes

25th Jun 2012 08:57

Nationalised Spanish bank Bankia and its holding company Banco Financiero y de Ahorros (BFA) may be preparing to sell all of its corporate shareholdings of publicly-listed companies, except for Mapfre, El Mundo reports today.The troubled banking group would raise up to €1.6bn after selling 5.4% of Iberdrola, 18.6% of Deoleo, 12.09% of IAG, 20% of Indra, 15.75% of NH Hoteles, and 27% of Realia.The group would continue to hold its 14.99% stake of Spanish insurance group Mapfre because management considers it to be a strategic investment.IBERDROLA MAY BE CONSIDERING A BUYBACK OF BANKIA'S 5.4% STAKESpanish power company Iberdrola may consider buying back the stake that is held by Bankia to increase its treasury stock or will alternatively look for buyers, Spanish daily Expansion reports.Iberdrola president Ignacio Galan suggested these options at last Friday's shareholder meeting in Bilbao.IAG OPEN TO RIVAL AIRLINE BUYING BANKIA'S 12% STAKELast week, Iberia and British Airways owner IAG said that it was open to a rival airline buying the stake owned by Bankia. However, some analysts were concerned that other airlines are not in position to buy it."There are investors interested in replacing Bankia, and in my opinion it is not a question of if, but when they are going to sell," IAG Chief Executive Willie Walsh told Expansion.By 09:23 in Madrid, Bankia's shares was up 4.64% at €1.015, Iberdrola was down 2.06% at €3.555. UK-listed shares of IAG were down 0.51% at 155.3p in London.MD