City of Munich offers Lufthansa airport shares for sale

The city of Munich is thinking about reducing its participation in Munich Airport. The proceeds from the sale will be used to build a new subway line in the city.

In the city council, the CSU and the Free Voters have spoken out in favor of this approach. The state capital of Bavaria currently holds 23 percent. The Free State holds 51 percent and the remaining shares are in the hands of the Federal Republic of Germany. The two parties have in mind that 18 percent could be sold.

“The shares will first be offered for sale to the Free State of Bavaria and the Federal Republic of Germany as well as Lufthansa AG. If they do not want to buy, the shares will be sold on the open market,” it said in a statement.