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: http://www.timesonline.co.uk
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