LTMAQ - LATAM Airlines gains on report that Brazilian airline Azul interested in acquisition

LATAM Airlines Group (OTCPK:LTMAQ) rose 5% after a report that Brazilian airline Azul SA (NYSE:AZUL) is interested in purchasing the bankrupt Chilean airliner if creditors can't agree on a restructuring plan. Azul founder and Chairman David Neeleman told Chilean newspaper Diario Financiero that he would likely make an offer, though it would have to be after Nov. 23, when the regulatory limit for reaching a restructuring agreement ends, Reuters reported. Azul (AZUL) fell 3%. Recall in September, LATAM Airlines' proposed financing deal nixed by bankruptcy judge.

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LATAM Airlines gains on report that Brazilian airline Azul interested in acquisition