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Germany's government agrees to Lufthansa rescue offer

Berlin, May 22 (RHC)-- German ministers have agreed on final details of a rescue deal they will offer coronavirus-stricken airline giant Lufthansa, business daily Handelsblatt reported.

Berlin will take a 20-percent stake in the group, topping it up with a convertible bond worth 5 percent plus one share -- "putting the state in a position to build a blocking minority in case of a hostile takeover," the newspaper said.

If confirmed, the solution would close weeks of wrangling between Chancellor Angela Merkel's CDU conservatives and their centre-left junior partners the SPD.
 

Edited by Ed Newman
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