Portugal picks Lufthansa to buy 44.9% of TAP, sources say

By Reuters News

LISBON, Oct 14 (Reuters) - Portugal's government has chosen Lufthansa LHAG.DE to acquire a 44.9% stake in TAP Air Portugal, making the German airline the strategic partner of one of Europe's last independent flag carriers, two people familiar with the matter told Reuters on Wednesday.

Lufthansa beat rival Air France-KLM AIRF.PA after both airlines submitted improved final bids for TAP in late September.

The government will announce the terms of the deal in a news briefing later on Wednesday.

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