LONDON, Jan 17 (Reuters) - British Airways-owner IAG
lifted a restriction on non-EU investors' ability to
buy its stock, helping boost its share price by more than 5%.
Last February, IAG, which also owns Iberia, Vueling and Aer
Lingus, set the maximum level for ownership of its shares by
non-Europeans at 47.5% in a bid to maintain its status as a
European-owned airline.
IAG said on Friday that non-EU ownership had dropped to
39.5% and as such it was removing the cap which had been in
effect for 11 months.
Shares in the company rose 5.3% to 672 pence at 0858 GMT,
their highest level since September 2018.
Bernstein analyst Daniel Roeska said the change meant a
large overhang had now gone. "We view this news very
positively," he said.
(Reporting by Sarah Young, Editing by Paul Sandle)