Portugal picks bids by Neeleman, Efromovich for next phase of TAP sale
LISBON May 21 (Reuters) - The Portuguese government has picked a group led by American-Brazilian investor David Neeleman and another led by Brazilian-Colombian aviation tycoon German Efromovich for the second phase of privatisation of the indebted flag carrier TAP.
Transport Secretary Sergio Monteiro said a third bidder, a holding company of Portuguese investor Miguel Pais de Amaral, had been excluded from the process because the bid he had presented was not considered binding. The government set no deadline for the end of the negotiating phase, but it has said that it wants to sell TAP by the end of June.
The government received three offers last week for the struggling state-owned flag carrier TAP in its second attempt to privatise it.
(Reporting By Andrei Khalip, editing by Shrikesh Laxmidas)
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