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Top Lufthansa shareholder Kuehne does not plan to take blocking minority stake-Welt am Sonntag

Reuters
·1-min read
FILE PHOTO: Lufthansa logo is seen on a self check-in machine at Frankfurt Airport in Germany

FRANKFURT (Reuters) - Logistics billionaire Klaus-Michael Kuehne, Lufthansa's top shareholder, has no plans to raise his stake in the carrier to a 25% blocking minority, which would give him the power to veto major strategic decisions, he hold a German paper.

Kuehne in September disclosed that he had increased his stake in Lufthansa to 17.5%, after the German government sold all its remaining shares in the airline, which it accumulated as a result of the COVID pandemic to keep the airline afloat.

"It should remain at the current 17.5% for now," Kuehne, who is also the controlling shareholder of Swiss logistics firm Kuehne & Nagel and has a 30% stake in container shipping company Hapag-Lloyd, told Welt am Sonntag.

"I am not aiming for a blocking minority," Kuene said, adding he was satisfied with Lufthansa Chief Executive Carsten Spohr.

(Reporting by Christoph Steitz)