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Norwegian Air's stock soars 18% as British Airways parent considers bid

Shares in Norwegian Air Shuttle ASA NAS, +18.29% flew 18% higher on Thursday after the dad or mum company for British Airways mentioned it's going to try a full takeover of the price range carrier. International Airlines Group S.A. IAG, -Zero.42% mentioned it "considers Norwegian to be an attractive investment and has acquired a 4.61% ownership position in the airline." The minority stake is "intended to establish a position from which to initiate discussions with Norwegian, including the possibility of a full offer," IAG mentioned in a statement. No such discussions have taken place so far," and there is not any walk in the park that such a resolution will be made, the corporate added. IAG has faced stepped-up pageant in the profitable long-haul marketplace from price range operators similar to Norwegian. IAG's inventory traded down Zero.three%.