-
Germany Will Take Lufthansa Stake in Landmark $9.8 Billion Bailout
Germany will offer Deutsche Lufthansa AG a 9 billion-euro ($9.8 billion) bailout that thrusts the state back into the heart of a company privatized with fanfare two decades ago. The aid package involves taking an initial 20% stake that could rise to 25% plus one share in the event of a hostile takeover, according to a statement on Monday. The plan, which requires European Union approval and will almost certainly be challenged by rival airlines such as Ryanair Holdings Plc, gives German officials an effective veto over company strategy. While Lufthansa’s management board accepted the offer, the company’s ... (full story)