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NEWS

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.

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)

 

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