Portugal's Sale of TAP Airline Bogged Down by Political Crisis [Yahoo! Finance Canada]
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Source: Yahoo! Finance Canada
Most Read from Bloomberg Prime Minister Luis Montenegro's minority government on Thursday called for a confidence vote — a contest it's likely to lose after opposition parties vowed to reject the motion. Defeat in the parliamentary vote would lead to Montenegro's dismissal and early elections expected in May. This would put his government in a caretaker role, deciding only on urgent matters that don't include the sale of TAP, said the people, who asked not to be named discussing contingencies. The sale process would then be delayed for several months until a new government is in place, they said. Montenegro's administration was due to start a privatization process in March that could result in the sale of at least 49% of TAP, Bloomberg News reported last month. The plan to sell less than half the company was aimed at sidestepping political opposition. The government had targeted a conclusion of the sale by the end of this year or in 2026, a person familiar with the plan said
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