Portugal to define size of TAP stake for sale once proposals

Portugal to define size of TAP stake for sale once proposals submitted

Portugal will decide on the size of the stake it will sell in flag carrier TAP once competitors present their proposals, Infrastructure Minister Joao Galamba told a parliamentary committee on Thursday. The Portuguese government plans to sell at least 51% of TAP as part of a plan to privatise the struggling state-owned airline. "Before we know the concrete proposals of competitors and any future improvements to these proposals, we cannot define the exact stake (of TAP) that will be sold," Galamba said.

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