Lufthansa set to win bidding for stake in Portugal's TAP, SIC reports

By Reuters News

LISBON, Oct 13 (Reuters) - Germany's Lufthansa LHAG.DE is set to win the bidding for the purchase of a 44.9% stake in Portugal's flag carrier TAP over rival Air France-KLM AIRF.PA, broadcaster SIC said on Tuesday, citing sources familiar with the matter.

  • The German group is offering an all-cash deal for its stake in TAP, unlike Air France-KLM, whose proposal combines cash and shares in the Franco-Dutch airline, SIC reported.

  • Lufthansa's stronger financial position was also a key factor, it added.

  • Portugal's Infrastructure Ministry declined to comment.

  • Air France-KLM and Lufthansa submitted final bids for the stake in September after Portugal's government requested both bidders improve their offers.

  • The government is due to choose the winner at an extraordinary cabinet meeting on Wednesday.

Capital.com is an execution-only brokerage platform and the content provided on the Capital.com website is intended for informational purposes only and should not be regarded as an offer to sell or a solicitation of an offer to buy the products or securities to which it applies. No representation or warranty is given as to the accuracy or completeness of the information provided.

The information provided does not constitute investment advice nor take into account the individual financial circumstances or objectives of any investor. Any information that may be provided relating to past performance is not a reliable indicator of future results or performance.

To the extent permitted by law, in no event shall Capital.com (or any affiliate or employee) have any liability for any loss arising from the use of the information provided. Any person acting on the information does so entirely at their own risk.

Any information which could be construed as “investment research” has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication.