-Spain: The Spanish government approves the sale of 40% of the capital of the aviation company IBERIA (turnover of 665.3 billion ESP in 1998) to seven investors, of which the companies BRITISH AIRWAYS AND AMERICAN AIRLINES, who will pay a total amount of 182 billion ESP. According to the planned schedule, BRITISH AIRWAYS will hold a 9% stake of IBERIA's capital and AMERICAN AIRLINES 1%, the remaining core of investors should be made up of the five Spanish institutional investors who hold a total 30% of the capital, CAJA MADRID (10%), BANCO BILBAO VIZCAYA (7.3%), the logistical company LOGISTA (6.7%), the distribution group EL CORTE INGLES (3%) and the Spanish confederation of building societies AHORRO CORPORACION (3%). This operation that marks the first step in the total privatisation of IBERIA will be followed, during 200, by the launch of a public tender for 54% of the capital, the remaining 6% belong to the company employees. See EI of 15 December.