Portugal Seeks Opposition Backing to Sell Remaining 50.1% of TAP to Lufthansa
The Portuguese government is seeking opposition support to sell the state's remaining 50.1 percent stake in flag carrier TAP to Lufthansa for 1.351 billion euros ($1.52 billion), Finance Minister Joaquim Miranda Sarmento said. The government on Wednesday picked Lufthansa's 1.2 billion euro bid for up to 49.9 percent of TAP, and the German airline's offer for the remaining shares — 863 million euros in cash plus a 5 percent stake in the Lufthansa Group — would complete TAP's privatisation.
Sarmento told state broadcaster RTP that the minority centre-right government supports the proposal, which he said would benefit both the flag carrier and Portugal's economy. Under the government's presentation, the second phase, valuing the 5 percent stake at 488 million euros, could take place by mid-2028.
Sarmento said the 5 percent stake would make Portugal Lufthansa Group's second-largest shareholder and that Lufthansa's growth plans for TAP would bring "many more employees, much more activity, much higher revenues" and "far greater benefits" to Portugal's economy. The opposition Socialist Party said it was premature to talk about full privatisation, while the far-right Chega said it would first review the terms. (GSM, based on Reuters reporting)
Source: GSM · USA (original Chinese edition)
Photo: 里斯本圣本托宫。Sao Bento Palace, Lisbon. Photo by GualdimG, Wikimedia Commons, CC BY-SA 4.0.
