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Telepizza falls from Ibex 35 index

June 11, 2002

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MADRID -- In a sign of its continued fall from investor favor, Spanish pizza carryout and delivery chain, Telepizza, has been bumped from the Ibex 35 stock index and replaced by Spanish airline Iberia.

According to Reuters, the changes will occur on July 1.

Telepizza's shares have fallen 30 percent this year, following a similar drop last year.

By comparison, Iberia's shares have risen 76 percent over the same period.