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Richard Branson
Country of residence : United Kingdom
Birthday : 07/18/1950

Branson May Give Up Control Of Virgin Atlantic Soon- Report

12/09/2012 | 07:06am US/Eastern

U.K. entrepreneur Sir Richard Branson could give up control of airline Virgin Atlantic in just a few days after three-way talks over its future this weekend, reports the Sunday Times newspaper, citing unidentified sources close to the talks.

Branson is in takeover talks with Delta Air Lines Inc. and Air France-KLM (>> AIR FRANCE -KLM), according to the report.

The newspaper reported last week that Delta, the U.S.'s biggest airline, had approached Singapore Airlines Ltd. (>> SINE AIRL ADR) to buy its 49% stake in Virgin Atlantic, with a view to Air France-KLM eventually buying part of Branson's 51% holding.

A Virgin Atlantic spokeswoman declined to comment on the report. Delta and Air France-KLM couldn't be reached.

Newspaper website:

London Bureau, Dow Jones Newswires; +44 (0)20 7842 9320

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Stocks mentioned in the article : AIR FRANCE -KLM, SINE AIRL ADR
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