Qantas confirms possible British Airways merger

Updated Thursday, December 4, 2008 11:23 am TWN, dpa

Qantas confirms possible British Airways merger

SYDNEY -- Qantas Airways Ltd confirmed Wednesday that it was in talks with British Airways plc (BA) on a possible merger that would see both iconic brands surviving and dual stock. The negotiations come four years after BA sold a 25-percent stake in Qantas that it picked up when the carrier was privatized in 1995. Treasurer Wayne Swan said that a merger would need the blessing of the Australian government, because current regulations restrict foreign ownership to 49 percent and individual shareholdings to 25 percent.

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