Portugal reaches initial deal with TAP's private shareholders
Reuters
Published Jul 02, 2020 01:54PM ET
LISBON (Reuters) - Portugal's government said on Thursday it had reached an initial deal with the private shareholders of ailing flag carrier TAP that would keep it afloat, but warned it would nationalise the airline if commitments are not met.
"There is at present an agreement in principle with the private sector to make the intervention in TAP feasible," said cabinet affairs minister, Mariana Vieira da Silva. "If this commitment is broken, the cabinet will meet to approve a decree to nationalise TAP."
The government said it expects the final agreement to be sealed in the coming hours.
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Written By: Reuters
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