Portugal Seeks Better Bids in TAP Sale
Portugal has launched a final round of negotiations for a minority stake in TAP Air Portugal. The government asked Air France-KLM and Lufthansa to submit improved offers after evaluating their initial binding bids as too close to call.
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Portugal asked AIR FRANCE-KLM and DEUTSCHE LUFTHANSA-REG for improved binding offers for a 44.9% stake in TAP on Friday afternoon. The government launched the final round of negotiations after assessing the initial July bids as too close to separate. The privatization aims to expand the carrier's international reach and strengthen connectivity across domestic airports.
