As I surmised previously, negotiations for the sale of TAP-Air Portugal are becoming increasingly difficult as the Portuguese Government's constraints of the sale are becoming so rigid as to make it almost impossible for potential investors. One almost thinks the Government does not really want sell the Airline.
The latest news is that the Portuguese Govt. is demanding 100% bank financing guarantees from the sole remaining preferred bidder.
See: (In Portuguese)
http://economico.sapo.pt/noticias/exigencia-de-garantias-bancarias-ameaca-venda-da-tap_158690.html
