IAG will bid for Spanish low-cost airline Vueling

International Airlines Group (IAG) has increased its takeover offer for Spanish budget airline Vueling.

The airline giant already owns a 45.85 per cent but is keen to push through a deal after having its previous bid rejected.

IAG, who are the parent company of British Airways, has increased its offer from €7 a share to €9.25 a share, equivalent to an offer of €149 million. This puts the value of Vueling at €276 million.

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