LONDON (Brand Republic) – British Airways has called off takeover talks with Dutch airline KLM, after disagreements over management control.
BA claimed that KLM refused to cede control to its larger rival, saying that the supervisory board needed to be Dutch-controlled because of agreements with other countries on routes from Amsterdam’s Schiphol airport.
This is the fourth failed attempt to merge the two companies. BA’s share price opened at 299p at close of trading today –- less than half its 1998 price of 700p.(General release)