German investor Kuehne does not plan to further boost Lufthansa stake

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German investor Kuehne does not plan to further boost Lufthansa stake

Planes of German air carrier Lufthansa are parked at Frankfurt airport in Frankfurt, Germany, June 2, 2020. REUTERS/Kai Pfaffenbach

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BERLIN, Aug 23 (Reuters) – German logistics entrepreneur Klaus-Michael Kuehne is not planning to increase his stake in Lufthansa (LHAG.DE) 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. read more

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 (KNIN.S) and has a 30% stake in container shipping company Hapag-Lloyd AG (HLAG.DE).

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Writing by Miranda Murray; Editing by Kirsten Donovan

Our Standards: The Thomson Reuters Trust Principles.

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