Air France-KLM in the race for Portugal's TAP with offer for minority stake [Yahoo! Finance]
AIR FRANCE-KLM ADS (AFLYY)
NASDAQ:AMEX Investor Relations:
airfranceklm.com/en/contacting-investor-relations-department
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Source: Yahoo! Finance
The Air France-KLM group is the first company to confirm that it has made a proposal to acquire a minority stake in the Portuguese airline. The non-binding proposal was submitted on Thursday, 2 April, the Franco-Dutch group said in a statement. In the note, the company emphasises that it has "extensive experience working with state shareholders. We believe that this partnership experience is a testimony to the strategic importance of aviation for a nation." Assuring that he will not jeopardise the maintenance of the Lisbon operational centre, which is one of the main concerns of the political parties opposing the sale, Benjamin Smith, the executive chairman of Air France-KLM, as quoted in the statement, that the company's ambition "is to strengthen operations in Lisbon" while developing "connectivity in other cities in the country, including Porto." "Thanks to its ideal geographical position, Lisbon could become the Group's only hub in southern Europe, offering extensive conne
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