Lufthansa in Talks for Full TAP Takeover
Lufthansa is in discussions to acquire full control of Portugals flag carrier TAP. The Portuguese government is seeking political support to sell its remaining stake.
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Deutsche Lufthansa AG is negotiating a full buyout of TAP, offering €1.351 billion ($1.52 billion) for the remaining 50.1% state stake as Portugal seeks legislative backing. The minority government selected a €1.2 billion bid for an initial 49.9% share on Wednesday. The multi-phase transaction values a 5% group stock exchange at €488 million alongside €863 million in cash.
