Air France-KLM and Lufthansa on Wednesday submitted binding offers to buy a 44.5% stake in TAP Air Portugal, Parpública, which manages the state's shareholdings, said in a statement quoted by Eco (source in Portuguese).
"As part of the third stage of the process for the reference sale of 44.9% of TAP's share capital, PARPÚBLICA, SGPS, S.A. announces that it has received two binding proposals, submitted by the interested parties invited to do so after the conclusion of the second stage of the said transaction, Air France-KLM S.A. and Deutsche Lufthansa AG," the Parpública statement says.
