Portugal Kicks Off Plan to Sell 49.9% Stake in Carrier TAP (1)

Portugal plans to sell a 49.9% stake in TAP SA, its latest attempt to privatize Europe’s largest wholly state-owned airline.

Of the stake being sold, 5% will be for TAP workers, Prime Minister Luis Montenegrosaid on Thursday. The remaining 44.9% can be bought by one or more investors, he said.

“It’s our conviction that there will be a lot of interested parties,” Montenegro told reporters from the prime minister’s palace in Lisbon, where he’s hosting the government’s weekly cabinet meeting. Bids will be assessed from financial, technical and strategic points of view, he added.

Europe’s largest full-service airlines ...