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The Economic Times
The Economic Times
National

Lufthansa to buy 44.9 per cent of TAP Air Portugal in euros 1.2 billion deal

Lisbon: Lufthansa is buying a 44.9 per cent stake in Portuguese flag carrier TAP Air Portugal in a deal the Portuguese government valued at 1.2 billion euros (USD 1.3 billion), officials announced Wednesday, in the latest effort to privatise the airline.

The German airline outbid Air France-KLM, the only other company in the race, Portuguese Prime Minister Luis Montenegro said.

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