IAG likely to abandon pursuit of Portugal's TAP, Bloomberg News reports

Group 1 - IAG is likely to abandon its pursuit of acquiring a stake in Portugal's TAP, as reported by Bloomberg News [1] - In November, IAG expressed interest in buying a minority stake in TAP, joining competitors Air France-KLM and Lufthansa in the privatization efforts [2] - The Portuguese government is looking to sell a 49.9% stake in TAP, having relaunched the privatization process in July of the previous year [3]