State could retain minority shareholding in TAP

The Portuguese State is likely to retain a minority shareholding in the airline TAP as it goes on the market at some time this year.

The Government is currently preparing a Decree-law for its privatisation and a plan has already been presented to the European Union for evaluation in terms of EU competition regulations.
However, discussions on whether the sale would involve 100% of the airlines’ share capital, or just part, have not yet ended, and the Government is said to be divided over the issue.
Various European airlines are interested in buying the controlling share in TAP with Lufthansa confirming its interest on Friday. British Airways/Iberia and KLM/Air France are other contenders.