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Lufthansa to sell 51% stake in IT unit; Tata, IBM top bidders: report

Lufthansa to sell 51% stake in IT unit; Tata, IBM top bidders: report
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First Published: Thu, Aug 18 2011. 05 15 PM IST
Updated: Thu, Aug 18 2011. 05 15 PM IST
Frankfurt: German flagship airline Lufthansa is close to selling a majority of its IT subsidiary Lufthansa Systems, publication manager magazin reported on Thursday.
The two remaining bidders are IBM and Indian conglomerate Tata Group, the magazine said in a prerelease of its Friday edition.
Citing sources close to the deal, the publication said Tata had better chances of securing the deal. The winner would take over 51% of the company, giving it the rights for corporate management, the magazine said.
A Lufthansa spokeswoman declined to comment.
Tata and IBM were not available for comment.
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First Published: Thu, Aug 18 2011. 05 15 PM IST
More Topics: Lufthansa | IT | Tata | IBM | Lufthansa Systems |