Economy Minister Peter Altmaier and Finance Minister Olaf Scholz met for crunch talks with Lufthansa representatives and rail industry tycoonThe clock is ticking as Lufthansa shareholders are voting Thursday, June 25, on the rescue plan, which would see Berlin take a 20% stake in the company.He said the suggested bailout was a"good, carefully considered proposal" that had already won the backing of Lufthansa's supervisory board and the European Commission.
With shareholders representing just 38% of Lufthansa's capital registered to participate in the meeting, two-thirds backing will be needed to approve the plan rather than a simple majority if turnout were higher. In a letter to employees on Sunday, June 21, Lufthansa chief executive officer Carsten Spohr said the company had made"extensive preparations" should the deal fall through.German billionaire Thiele has in recent weeks built up a 15% stake in Lufthansa, making him the group's largest single shareholder.daily last week that"not all the possibilities were exhausted" in bosses' talks with Berlin.received state aid in the form of loans rather than government shareholdings.
If shareholders reject the rescue package, the Lufthansa group – which also includes Swiss, Austrian, and
Source: News Formal (newsformal.com)
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