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Qatar increases stake in British Airways' owner IAG to 25.1%

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Qatar Airways Group said on Wednesday it had increased its holding in British Airways-owner IAG to 25.1 per cent, buying another stake worth 465 million pounds (S$840 million), as part of a strategy it described as being highly successful.

[LONDON] Qatar Airways Group said on Wednesday it had increased its holding in British Airways-owner IAG to 25.1 per cent, buying another stake worth 465 million pounds (S$840 million), as part of a strategy it described as being highly successful.

Qatar previously held 21.4 per cent of IAG, which also owns Spanish carriers Iberia and Vueling and Ireland's Aer Lingus.

The cost of increasing its IAG holding is 465 million pounds, based on the closing price of IAG's shares on Tuesday.

Qatar first invested in IAG in 2015, buying 9.99 per cent of the company, and has steadily increased it since then.

It also owns stakes in China Southern and Cathay Pacific, and said earlier this month it was in talks about doubling its holding in LATAM Airlines Group to 20 per cent and buying a 49 per cent stake in Africa's RwandAir.

It said it continued to support IAG and its strategy.

REUTERS