Lufthansa Poised to Win TAP Stake
German carrier Lufthansa is reportedly set to win the bidding for a stake in TAP Portugal over rival Air France-KLM. The Portuguese government is expected to choose the winning bid at a cabinet meeting on Wednesday.
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DEUTSCHE LUFTHANSA-REG is set to secure a 44.9% stake in Portugal's national carrier, outbidding AIR FRANCE-KLM, according to broadcaster SIC. The Germany-based carrier submitted an all-cash proposal, outperforming its rival's mixed offer of cash and shares. The selection positions the German group to expand its southern European footprint significantly.
