Caja Madrid said on Tuesday it ruled out offering a buy option to British Airways for the savings bank's stake in airline Iberia, but would reopen talks with BA shortly.
"We've gone a long time without talks, but we are reopening them now," Chairman Miguel Blesa told reporters at a news conference.
The savings bank, Iberia's biggest shareholder, was also looking at small buy opportunities in the banking sector, he added.
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