LAN Airlines extends TAM share swap, delays merger (Reuters)

June 17, 2012

* Holdouts among TAM minorities surprise airlines

* LAN waives 5 pct limit on remaining TAM free float

* Airlines extend share swap for another 10 days

SAO PAULO/SANTIAGO, June 12 (Reuters) – Chile’s LAN Airlines decided to wait another 10 days to carry out a share swap with rival TAM after holdouts among the Brazilian carrier’s minority shareholders put a hitch in a takeover that would form Latin America’s largest airline.

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