IAG CEO says would not participate in bidding war for Norwegian

LONDON (Reuters) - British Airways-owner IAG <ICAG.L> will not become involved in any bidding war for Norwegian Air Shuttle <NWC.OL>, the group's chief executive told shareholders at its annual meeting on Thursday, adding it was not a must-do deal.

Norwegian said in May that it had rejected two approaches from IAG, the owner of British Airways, Iberia, Aer Lingus and Vueling, because they undervalued the company.

"We remain open-minded about Norwegian – this is not a deal that we have to do and we will certainly not get involved in a bidding war," IAG's CEO Willie Walsh told the group's meeting which was held in Madrid.

(Reporting by Sarah Young, editing by James Davey)