Lufthansa Frontrunner as Portugal Decides on TAP Privatisation
Portuguese media reported on October 14 that the government was expected to take a formal decision on the privatisation of a 44.9 percent stake in TAP Air Portugal at an extraordinary Council of Ministers meeting on Wednesday, October 14. Lufthansa is reported to be the frontrunner, with Air France-KLM the rival bidder. Final bids reportedly exceed €1 billion, implying a valuation of €2 billion to €2.2 billion. The state would keep 50.1 percent, with 5 percent reserved for employees. Closing requires European Commission approval and is expected to take 18 to 24 months.
Source: GSM · USA (original Chinese edition)
Photo: 葡萄牙航空客机飞行实景。图片来源：Wikimedia Commons，Siyuan He 摄，公共领域 授权
