The Portuguese Government has initiated final negotiations with two candidates to purchase TAP, the country's flag carrier. Parpública, the public company responsible for managing State holdings, delivered to the Executive the report containing the two binding offers received within the scope of the privatization process.
The sale process foresees the alienation of up to 49.9% of the Portuguese airline's capital, which represents a majority stake. This is a process that aims to open TAP's ownership to private investors, while still maintaining a significant share in the hands of the State.
The two binding offers are now in the phase of detailed analysis by the Government, which should proceed with negotiations with the selected candidates before defining the winner of the privatization tender.
