Portugal picks Air France-KLM and Lufthansa to make offers for TAP [Yahoo! Finance]
AIR FRANCE-KLM ADS (AFLYY)
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Source: Yahoo! Finance
HENRIQUE CASINHAS/AFP/AFP Portugal on Thursday asked Air France-KLM and Lufthansa to make binding offers to buy a controlling stake in TAP Air Portugal, as the government seeks to privatise an airline it rescued during the Covid-19 pandemic. The Portuguese government announced last September that it was seeking a major international airline to buy most of the 49.9 percent stake that it plans to privatise. Air France-KLM and Lufthansa both submitted non-binding offers this month, and Portugal's government now wants them to submit binding bids within three months. "Two of the three big European airline groups... are in the running, which demonstrates the attractiveness of the company as well as the country," said Finance Minister Joaquim Miranda Sarmento. IAG, the parent company of British Airways and Iberia, had earlier expressed an interest in taking a stake but did not make a bid. Infrastructure Minister Miguel Pinto Luz, who is in charge of the privatisation of TAP, sai
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