Scandinavian budget carrier Norwegian has rejected two proposals from British Airways parent IAG to acquire the entire share capital of the company.
IAG had taken a small shareholding in Norwegian and had indicated the potential for making an offer for the company.
Norwegian says it has received two separate and "conditional" proposals from IAG, relating to acquiring 100% of the budget airline's share capital.
These proposals were reviewed, it states, but "unanimously rejected" because they "undervalued [Norwegian] and its prospects".
"The board of [Norwegian] remains fully committed to delivering on its stated strategy," it adds.
IAG chief Willie Walsh, speaking during the company's first-quarter results briefing, confirms that the initial contact with the Norwegian board "didn't go anywhere" and "has not led to any agreement".
While IAG is reviewing its options with regard to Norwegian, he adds, the company is "not actively looking at anything else" in terms of acquisitions elsewhere.
Source: Cirium Dashboard