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TAM Interested in Portugal’s TAP Airline, Bologna Tells O Globo

Brazilian airline Tam SA is “tracking” the possible sale of Tap SGPS SA, Portugal’s state-owned airline, O Globo newspaper reported, citing an interview with Tam Chief Executive Officer Marco Antonio Bologna.

Tam is waiting for Portugal to announce the privatization of the airline, Bologna told the paper. Tam is also interested in investing in Brazilian airports, Bologna is cited as saying.

Chile’s antitrust tribunal must first approve a takeover of the company by Lan Airlines SA. Tam plans to buy shares from minority investors who don’t approve the takeover, O Globo reported, citing Bologna.

Lan said in August it planned to buy Tam for $3.9 billion.

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