FRANKFURT (Reuters) -Germany's Lufthansa reaffirmed its intention to vie for a minority stake in Portugal's state carrier TAP, saying on Thursday it had formally filed its interest with the government
Lufthansa Enters Bid for TAP Stake in Competitive Market
FRANKFURT (Reuters) -Germany's Lufthansa reaffirmed its intention to vie for a minority stake in Portugal's state carrier TAP, saying on Thursday it had formally filed its interest with the government.
In a statement, it said it had submitted a proposal to Portuguese state holding company Parpublica as suitor in the planned sale of shares, also offering a "long-term partnership".
Rivals Air France-KLM and British Airways owner IAG have also expressed interest in buying the TAP stake, and Air France-KLM on Thursday said it had registered its interest with Parpublica, confirming a media report.
Portugal's government in July relaunched the long-delayed privatisation of TAP, putting a 44.9% stake up for sale to an airline that could add scale and competitiveness, with an additional 5% to be sold to TAP employees.
The government said last month it expects the planned sale of the combined 49.9% stake to proceed smoothly.
Lufthansa said its aspirations as an investor took into account TAP's "great strategic importance to the European aviation industry".
"As a long-standing partner in the Star Alliance and with our extensive investments in Portugal, we continue to see the Lufthansa Group as the best partner for TAP and for Portugal," said CEO Carsten Spohr on Thursday.
(Reporting by Ilona Wissenbach, Tim Hepher Writing by Ludwig BurgerEditing by Miranda Murray)
