Tag: TAP privatisation

Lisbon’s choice gives the German group a gateway to Brazil and the Atlantic, and hands Air France-KLM a setback in Europe’s airline consolidation race. The TAP Air Portugal stake has gone to Lufthansa, after Portugal’s government announced following Wednesday’s cabinet meeting that the German group was chosen to buy 44.9% of the airline. The decision beats rival bidder Air France-KLM and completes the first phase of TAP’s privatisation, as Euronews reported. Prime Minister Luís Montenegro said the process was run with strict respect for competition and full transparency toward the Portuguese public. The deal still needs regulatory approval before it can be completed. Who Gets the TAP Air Portugal Stake Montenegro said Lufthansa’s financial offer was 16% higher than the rival propo...