Lufthansa to Seek 19.9% Stake in Portugal’s TAP, Corriere Says
(Bloomberg) -- Deutsche Lufthansa AG will seek an initial 19.9% stake in Portugal’s TAP SA as part of the state-owned airline’s privatization, Italian newspaper Corriere della Sera reported Sunday, citing anonymous Portuguese institutional sources.
Most Read from Bloomberg
The offer, which would keep the German airline below the minimum threshold that triggers a change of control, “should materialize no earlier than the first quarter of 2025,” and the stake could be worth €180 million ($199 million) to €200 million, Corriere said.
Neither Lufthansa nor the offices of Portugal’s prime minister and minister of infrastructure commented, the Italian daily said.
In July, Portugal’s government reaffirmed it plans to privatize TAP, adding that the terms of the sale are still to be defined.
Air France-KLM and IAG SA, the parent company of British Airways and Iberia, have also said they may be interested in TAP. The Lisbon-based airline’s biggest attraction lies in its links to Brazil, of which it’s the biggest European provider.
Most Read from Bloomberg Businessweek
Need 100,000 Balloons for a Convention? Here’s the Guy to Call
Hong Kong’s Old Airport Becomes Symbol of City’s Property Pain
How TikTok Turned Starface’s Pimple Patches Into a Beauty Obsession
©2024 Bloomberg L.P.
