The Economy and Finance Ministry
(MEF) and Lufthansa reached a breakthrough in talks late on
Monday to overcome a problem that had put the German company's
merger with ITA Airways on ice.
The Treasury said the economic conditions envisaged in the 2023
contract for the merger "have not undergone any changes".
As a result of the breakthrough, the documents for the operation
have been signed and sent to the European Commission for final
approval.
According to an agreement reached last year, the German airline
is acquiring from a 41% stake in ITA from MEF through a
325-million-euro capital increase, with the stake set to rise to
100% in a second phase - by 2033 - for a total investment of 829
million.
But the deal was put on hold last week after the German group
reportedly asked for a reduction of around 10 million euros on
the second tranche of just over half a billion euros.
The MEF owns ITA, the company that replaced the loss-making
former flag-carrier Alitalia in 2021.
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