{"id":56305,"date":"2025-11-22T15:38:21","date_gmt":"2025-11-22T19:38:21","guid":{"rendered":"https:\/\/stockmarketwatch.com\/stock-market-news\/portugals-tap-draws-three-major-bidders-as-swiss-inflation-anticipates-slight-acceleration\/56305\/"},"modified":"2025-11-22T15:38:21","modified_gmt":"2025-11-22T19:38:21","slug":"portugals-tap-draws-three-major-bidders-as-swiss-inflation-anticipates-slight-acceleration","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/portugals-tap-draws-three-major-bidders-as-swiss-inflation-anticipates-slight-acceleration\/56305\/","title":{"rendered":"Portugal&#8217;s TAP Draws Three Major Bidders as Swiss Inflation Anticipates Slight Acceleration"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>Portugal&#39;s state-owned airline TAP has received three formal expressions of interest from major European carriers \u2013 IAG, Air France-KLM, and Lufthansa \u2013 for a minority stake as part of its privatization efforts.<\/strong><\/li>\n<li><strong>The Portuguese government aims to sell a 44.9% stake to a strategic airline partner, along with an additional 5% to employees, while retaining a controlling 50.1%.<\/strong><\/li>\n<li><strong>Swiss National Bank President Martin Schlegel anticipates a slight acceleration in consumer-price growth in Switzerland in the coming quarters, though inflation remains within the central bank&#39;s target range of 0-2%.<\/strong><\/li>\n<\/ul>\n<p>Portugal&#39;s state-owned airline, TAP, has attracted significant attention from leading European carriers, with three formal expressions of interest submitted for a minority stake in the company. Meanwhile, in Switzerland, the central bank foresees a modest uptick in consumer-price growth.<\/p>\n<h2>TAP Privatization Heats Up with Major Airline Interest<\/h2>\n<p>Portugal has officially received three expressions of interest from potential investors seeking a minority stake in its national carrier, TAP. British Airways-owner International Consolidated Airlines Group S.A. (<a href=\"\/stock\/IAG\">IAG<\/a>), Air France-KLM S.A. (<a href=\"\/stock\/AF\">AF<\/a>), and Deutsche Lufthansa AG (<a href=\"\/stock\/LHA\">LHA<\/a>) have all formally indicated their interest in the part-privatization of TAP. This development follows the government&#39;s relaunch of the long-delayed privatization process in July.<\/p>\n<p>The Portuguese government intends to sell a 44.9% stake to a strategic airline partner, with an additional 5% to be offered to TAP employees. This structure ensures the government will retain a controlling 50.1% stake in the airline. <em>TAP&#39;s attractive assets include its crucial connections to Brazil, Portuguese-speaking African countries, and the United States from its Lisbon hub<\/em>, which the government aims to preserve and expand.<\/p>\n<p>IAG confirmed its submission but noted that &quot;several terms would need to be addressed&quot; before it could propose an investment. Lufthansa, for its part, emphasized TAP&#39;s &quot;great strategic importance to the European aviation industry&quot; in its proposal. The government&#39;s objective is to secure a partner capable of boosting TAP&#39;s global scale and competitiveness, while also preserving Lisbon&#39;s role as an international hub and the airline&#39;s brand identity.<\/p>\n<h2>Swiss Inflation Expected to Accelerate Slightly<\/h2>\n<p>Swiss National Bank (SNB) President Martin Schlegel has indicated that consumer-price growth in Switzerland is expected to accelerate &quot;a bit&quot; in the coming quarters. Speaking in Zurich, Schlegel noted that current inflation is at the lower end of the SNB&#39;s price stability range of 0% to 2%.<\/p>\n<p>The central bank&#39;s forecasts project inflation to average just <strong>0.2% in 2025<\/strong>, before rising to <strong>0.5% in 2026<\/strong> and <strong>0.7% in 2027<\/strong>. The SNB has maintained an <em>expansionary monetary policy<\/em>, having cut interest rates to zero to support inflation. However, Schlegel reiterated that returning to negative interest rates, a policy previously in place from 2015-2022, faces a high bar.<\/p>\n<p>Schlegel also highlighted that <em>uncertainty remains high<\/em>, citing potential downside risks from announced, though currently suspended, U.S. tariffs on certain pharmaceutical products. Analysts widely anticipate the SNB to keep interest rates unchanged at 0% following its next decision in December.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Portugal&#39;s state-owned airline TAP has received three formal expressions of interest from major European carriers \u2013 IAG, Air 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