Bankia May Sell IAG Airlines Stake

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Published: May 28, 2012

Spain’s Bankia said that it could sell its stakes in Spanish companies in future, a day after it asked the state for a EUR€19 billion (USD$ 23.77 billion) bailout, the biggest ever bank rescue in the country.

Bankia and its parent group BFA have holdings in big Spanish companies, including in International Airlines Group and Iberdrola.

“The BFA group and Bankia have a strong group of holdings… and the reason (for provisioning against it) is that in future… we will logically look to start a sale process,” said chairman Jose Ignacio Goirigolzarri.

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