Costa’s first mission as PM: “to reverse TAP and other privatisations”

It has been said before, but SIC television is stressing today that if António Costa takes up the reins of Portugal’s government, privatisations – including that of TAP – stand to be either reversed or renegotiated.

Considering the 61% deal over TAP forged by the coalition government “wrong”, Costa has reiterated in front of cameras that a future Socialist government will “do everything in its power” to ensure that TAP “does not have the majority of its capital privatised”.

Diário Económico reports today that a bid to reverse the deal has been written into the agreement by left-wing parties on how they mean to form the next government, and that TAP’s renegotiation is the very first thing on Costa’s agenda if he comes to power.

But as SIC explains, TAP’s would-be owners have said they will pull out if the deal changes as they are only interested in majority ownership.

Nonetheless, the sale is by no means assured as banks are reticent over losing the State’s guarantee over TAP’s crippling state of debt – set to increase if Gateway Consortium is successful in its bid for 61% ownership.

Meantime, SIC lists the other privatisation deals which a left-wing alliance would seek to reverse. These include the sale of Lisbon bus company Carris, and deals over Lisbon and Porto Metros.

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