Kjos may be forced to sell Norwegian Airline

CEO Bjørn KjosCEO Bjørn Kjos.Photo: Vidar Ruud / NTB scanpix

If the shareholders in Norwegian wish to receive bids,the company’s boss, Bjørn Kjos, may be forced to sell.

 

He said he has never considered it.

Kjos, the airline’s largest owner, commented on the acquisition of International Airlines Group (IAG) in connection with an extraordinary general meeting on the share issue on Friday.

“What interests me is to run the company. I’ve actually never thought of stock and sales and what it would mean’’, said Kjos according to Dagens Næringsliv newspaper (DN).

On Thursday, IAG, which owns British Airways, purchased 4.61% of the shares in Norwegian. This led to an increase in the share price of 47%. IAG is assessing whether to submit a formal bid for the entire airline.

Even though the Board would not want to sell, they must evaluate bids that come in and give a recommendation to shareholders whether they think yes or no, according to DN. If a bid is high enough, it is difficult for the board not to recommend it since they must take into account all of the shareholders.

 

© NTB Scanpix / #Norway Today

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