{"id":72993,"date":"2026-10-14T07:38:15","date_gmt":"2026-10-14T11:38:15","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/lufthansa-wins-tap-privatisation-bid-asian-central-banks-convene-in-bangkok\/72993\/"},"modified":"2026-10-14T07:38:15","modified_gmt":"2026-10-14T11:38:15","slug":"lufthansa-wins-tap-privatisation-bid-asian-central-banks-convene-in-bangkok","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/lufthansa-wins-tap-privatisation-bid-asian-central-banks-convene-in-bangkok\/72993\/","title":{"rendered":"Lufthansa Wins TAP Privatisation Bid; Asian Central Banks Convene in Bangkok"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>Lufthansa (<a href=\"\/stock\/LHA\">LHA<\/a>)<\/strong> has been selected as the strategic partner for the partial privatisation of <strong>TAP Air Portugal<\/strong>, securing a <strong>44.9% stake<\/strong> with an all-cash offer.<\/li>\n<li>Central bank governors from <strong>China (PBOC)<\/strong>, <strong>Japan (BOJ)<\/strong>, and <strong>South Korea (BOK)<\/strong> are meeting in <strong>Bangkok<\/strong> during the <strong>IMF-World Bank Annual Meetings<\/strong> to discuss regional financial stability and currency resilience.<\/li>\n<li><strong>US Mortgage Applications<\/strong> fell <strong>2.7%<\/strong> for the week ending October 9, as the <strong>30-year fixed mortgage rate<\/strong> climbed to <strong>7.50%<\/strong>.<\/li>\n<li>The <strong>TAP Air Portugal<\/strong> deal values the carrier at over <strong>\u20ac2 billion<\/strong>, though full regulatory clearance from the <strong>European Commission<\/strong> could take up to <strong>24 months<\/strong>.<\/li>\n<\/ul>\n<hr>\n<h2>Lufthansa Secures Strategic Stake in TAP Air Portugal<\/h2>\n<p>The Portuguese government has officially selected the <strong>Lufthansa Group (<a href=\"\/stock\/LHA\">LHA<\/a>)<\/strong> to acquire a <strong>44.9% stake<\/strong> in the national flag carrier, <strong>TAP Air Portugal<\/strong>. Lufthansa\u2019s <strong>all-cash proposal<\/strong> reportedly outperformed a rival bid from <strong>Air France-KLM (<a href=\"\/stock\/AF\">AF<\/a>)<\/strong>, which had offered a combination of cash and equity. The decision was finalised during an extraordinary cabinet meeting in Lisbon on Wednesday, marking a significant milestone in the airline&#39;s long-awaited privatisation process.<\/p>\n<p>The acquisition is a strategic win for <strong>Lufthansa (<a href=\"\/stock\/LHA\">LHA<\/a>)<\/strong>, providing the German aviation giant with a dominant hub in <strong>Lisbon<\/strong> and unparalleled access to lucrative routes in <strong>Brazil<\/strong> and <strong>Portuguese-speaking Africa<\/strong>. While the Portuguese state will retain a <strong>50.1% majority<\/strong>, the deal includes provisions for <strong>5% of shares<\/strong> to be reserved for employees. Analysts estimate the value of the minority stake at over <strong>\u20ac1 billion<\/strong>, implying a total enterprise valuation for TAP of approximately <strong>\u20ac2.2 billion<\/strong>.<\/p>\n<p>Despite the selection, the transaction is far from complete. The deal now enters a final phase of negotiations and must undergo a rigorous review by the <strong>European Commission&#39;s Directorate-General for Competition<\/strong>. Industry experts suggest that regulatory approvals and the formal closing of the deal may not be finalised until <strong>2027 or 2028<\/strong>, as authorities scrutinise the impact on market competition and airport slot concentration.<\/p>\n<hr>\n<h2>Asian Central Bank Chiefs Meet Amid Global Economic Volatility<\/h2>\n<p>In a high-level sideline event at the <strong>IMF-World Bank Annual Meetings<\/strong> in <strong>Bangkok<\/strong>, the heads of the <strong>People\u2019s Bank of China (PBOC)<\/strong>, the <strong>Bank of Japan (BOJ)<\/strong>, and the <strong>Bank of Korea (BOK)<\/strong> convened to address pressing regional economic challenges. The discussions are focused on maintaining <strong>financial stability<\/strong> and managing <strong>currency volatility<\/strong> as the region grapples with the &quot;triple threat&quot; of high global interest rates, fluctuating energy costs, and geopolitical tensions in the Middle East.<\/p>\n<p>The meeting comes at a critical juncture for East Asian economies. <strong>BOK Governor Shin Hyun-song<\/strong> and his counterparts are reportedly exploring the &quot;Bangkok Blueprint,&quot; a framework designed to strengthen digital finance safeguards and fraud resilience across Asian markets. The trilateral dialogue also touched upon the structural transformation of <strong>China&#39;s<\/strong> international investment position and the ongoing efforts by the <strong>BOJ<\/strong> to navigate a transition away from its long-standing ultra-loose monetary policy.<\/p>\n<hr>\n<h2>US Mortgage Demand Softens as Rates Hit 7.50%<\/h2>\n<p>The <strong>Mortgage Bankers Association (MBA)<\/strong> reported a <strong>2.7% decline<\/strong> in mortgage application volume for the week ending October 9, 2026. This follows a more substantial <strong>4.2% drop<\/strong> in the preceding week, signaling a continued cooling in the US housing market. The downturn is primarily driven by the <strong>30-year fixed mortgage rate<\/strong>, which edged up to <strong>7.50%<\/strong> from <strong>7.49%<\/strong>, its highest level in nearly three years.<\/p>\n<p>The persistent &quot;higher-for-longer&quot; interest rate environment has severely dampened both purchase and refinance activity. <strong>Refinance applications<\/strong> now account for <strong>37.7%<\/strong> of total volume, a slight uptick from the previous week but still significantly lower than historical averages. The <strong>MBA<\/strong> projects that mortgage volumes may remain under pressure through <strong>2027<\/strong>, as persistent inflation and wider spreads between mortgage rates and Treasury yields keep borrowing costs elevated for prospective homeowners.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Lufthansa (LHA) has been selected as the strategic partner for the partial privatisation of TAP Air Portugal, securing 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