Published On: Sun, Sep 30th, 2012

Brussels opens the door for the 100% purchase of TAP by Avianca

BRUSSELS - European Commission wants to put an end to the restrictions on ownership and control that limits to 49% of share a non-EU European carrier may have in a European company.

The European Commission (EC) says it is committed to strengthening the competitiveness of European industry. In this sense, the package of proposals will be submitted in early 2013, will suggest the removal of restrictions on ownership and control. If this measure is adopted, the TAP can reap benefit, since the most likely candidate for privatization of the company - the entrepreneur Germán Efromovich - is not European.

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