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The Portuguese government announced a sovereign wealth fund and initiated the state purchase of the airline TAP.

1 report, 1 independent Updated Jun 1
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What happened

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The Portuguese government announced a sovereign wealth fund and initiated the state purchase of the airline TAP.

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How it developed

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  1. Government opens talks regarding the privatization of TAP Air Portugal.Sub-event
  2. Binding offers have been submitted for a minority stake in TAP Air Portugal, proposing access to joint ventures and Star Alliance benefits.Sub-event
  3. Air France-KLM has submitted a bid to acquire a stake in TAP Air Portugal.Sub-event
  4. Local councils in Algarve, Portugal, are managing tourist beach use, while government agencies advise on concession rules.Sub-event
  5. The European Commission oversees the restructuring of TAP under state aid rules.Sub-event
  6. Sovereign wealth fund announced; state purchase of airline TAP initiated.1 source

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