March 20 (Reuters) - British Airways-owner IAG is likely to abandon its interest in pursuing an offer for Portugal's flag carrier TAP, Bloomberg News reported on Friday, citing people familiar with
IAG Expected to Withdraw from Pursuit of TAP Portugal as Bidding Deadline Nears
IAG's Interest in TAP Portugal and the Privatisation Process
Background: IAG's Initial Interest
March 20 (Reuters) - British Airways-owner IAG is likely to abandon its interest in pursuing an offer for Portugal's flag carrier TAP, Bloomberg News reported on Friday, citing people familiar with the matter.
IAG announced in November that it had interest in buying a minority stake in the carrier, joining European rivals Air France-KLM and Germany's Lufthansa, which had also expressed interest in the privatisation of TAP.
Current Status of the Bidding Process
No final decision has been made, and IAG could also make a non-binding offer by the April 2 deadline, but then not pursue an actual deal, the report added.
Details of TAP Privatisation
Portugal relaunched the long-delayed privatisation of TAP in July last year, looking to sell a 49.9% stake. The Portuguese government had invited the three parties to submit non-binding offers in early January.
Official Responses and Reporting
IAG and the Portuguese government did not immediately respond to Reuters' requests for comment.
(Reporting by Unnamalai L in Bengaluru. Editing by Alan Barona)
