Ernst & Young, Finantia to asses TAP for privatisation

State company Parpública has hired Ernst & Young and Banco Finantia to carry out independent assessments of airline company TAP as part of the privatisation that is being prepared. In a statement sent out to newsrooms, the company said that “as part of the reprivatisation process of TAP, S. A., Parpública, SGPS, SA reports that it has hired Ernst & Young, S.A. and Banco Finantia to carry out the assessments referred to in the Privatisation Framework Law,”. TAP was reprivatised under the PS Socialist government at a cost to taxpayers of €3.2 billion. The prime minister has conceded the State is unlikely to recoup its money. ‘Experts’ suggest the country will be lucky to reprivatise for €900 million.