TAM interested in TAP stake

TAM reportedly approached the Brazilian government to gauge interest in helping finance the acquisition of a stake in TAP Portugal (Reuters, 06-May-2011). The Portuguese government is selling TAP as part of a EUR78 billion bail-out agreement with the EU and International Monetary Fund. Brazil's government stated it could finance a deal, although its position depends on the result of the shareholder structure of the merger between LAN and TAM.