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Lufthansa shareholders need to approve the rescue package but Thiele, who has ammassed a 15% Lufthansa stake, has criticised bailout terms and is raising more cash by selling down 760 million euros worth of shares in rail and commercial vehicle supplier Knorr-Bremse (DE:KBX).
Thiele and Knorr-Bremse declined to comment.
The entrepreneur is against Germany taking a stake of up to 20% in the airline, terms which Lufthansa and the German government have agreed to as part of the planned rescue of the company.
Lufthansa fears that Thiele’s lack of approval for a bailout deal could bring down the rescue package at next week’s Annual General Meeting on June 25.
