Lufthansa to Seek 19.9% Stake in Portugal’s TAP, Corriere Says

Deutsche Lufthansa AG will seek an initial 19.9% stake in Portugal’s TAP SA as part of the state-owned airline’s privatization, Italian newspaper Corriere della Sera reported Sunday, citing anonymous Portuguese institutional sources.

The offer, which would keep the German airline below the minimum threshold that triggers a change of control, “should materialize no earlier than the first quarter of 2025,” and the stake could be worth €180 million ($199 million) to €200 million, Corriere said.

Neither Lufthansa nor the offices of Portugal’s prime minister and minister of infrastructure commented, the Italian daily said.

In July, Portugal’s government reaffirmed it plans ...