BERLIN (Reuters) – German logistics entrepreneur Klaus-Michael Kuehne is not planning to increase his stake in Lufthansa beyond 15%, he told the Frankfurter Allgemeine newspaper on Tuesday.
Kuehne increased his stake in the German flag carrier to 15% in July, making him the biggest shareholder.
When asked whether he would make a move when the German government sells its remaining stake of less than 10% in Lufthansa, which it must do by next year at the latest, Kuehne said that such an increase would be out of the question.
“We would then have a blocking minority of 25%. Politically, that’s probably not feasible,” he told the newspaper.
Don't miss out on any breaking news or insightful opinions!
Subscribe to our free newsletter and stay updated on the go!
The German billionaire is also the controlling shareholder of Swiss logistics firm Kuehne & Nagel and has a 30% stake in container shipping company Hapag-Lloyd AG.
(Writing by Miranda Murray; Editing by Kirsten Donovan)