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Lufthansa set for showdown with billionaire investor Thiele over $10bn bailout

Thiele set to meet Germany’s economics minister to discuss his objections to state rescue package

Shares in Lufthansa dropped 5.8% on Monday, ahead of a crunch meeting between the German airline’s biggest shareholder, Heinz Hermann Thiele, and Germany’s economics minister to discuss a $10bn rescue package.

Thiele, a 79-year-old billionaire, has built up a 15.5% stake in Lufthansa, making him the carrier’s largest shareholder. Thiele has raised objections against the government’s bailout, which would see the state taking a 20% stake in the airline and two seats on its supervisory board.

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