Portugal has selected Lufthansa as the buyer of a stake of up to 44.9 percent in the state-owned airline TAP. Bloomberg News reports this, citing sources.
The decision was made at a government meeting on Wednesday following improved bids from Lufthansa and rival Air France-KLM. A further 5 percent of the shares is reserved for TAP employees.
TAP is attractive due to its extensive route network between Europe, Latin America and Africa.
