Iberia is in and Grupo Marsans is out as the sale of SAS Group subsidiary Spanair took a dramatic turn yesterday. Marsans presented a formal offer in December but yesterday withdrew its interest, with a spokesperson telling Thomson Financial that the tourism conglomerate that counts Aerolineas Argentinas among its subsidiares "feels a bit betrayed" by SAS's decision not to keep the bidding private. Meanwhile, IB released a statement saying it would launch a bid for Spanair along with private ...

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