Portugal seals final deal with TAP's private shareholders - Metro US

Portugal seals final deal with TAP’s private shareholders

FILE PHOTO: An Airbus of TAP Air Portugal Airlines is pictured in Colomiers near Toulouse

LISBON (Reuters) – Portugal’s government sealed a final deal with private shareholders of ailing flag carrier TAP to take a controlling stake in the airline while avoiding nationalisation, ministers said in a press conference on Thursday.

Finance Minister Joao Leao said the government will increase it stake in TAP from to 72.5% from the current 50%.

“Fortunately, we avoided the nationalisation of TAP,” Infrastructure Minister Pedro Nuno Santos said.

(Reporting by Catarina Demony and Sergio Goncalves, Editing by Chris Reese)

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