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LONDON (Reuters) – Qatar Airways Group said on Wednesday it had increased its holding in British Airways-owner IAG (L:) to 25.1%, buying another stake worth $600 million as part of a strategy it described as being highly successful.
Qatar previously held 21.4% 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 ($604 million), based on the closing price of IAG’s shares on Tuesday.
Qatar first invested in IAG in 2015, buying 9.99% of the company, and has steadily increased it since then.
It also owns stakes in China Southern (SS:) and Cathay Pacific (HK:), and said earlier this month it was in talks about doubling its holding in LATAM Airlines Group (SN:) to 20% and buying a 49% stake in Africa’s RwandAir.
It said it continued to support IAG and its strategy.
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