Economy Minister Giancarlo Giorgetti
will have a meeting in the next few days with Lufthansa CEO
Carsten Spohr for talks aimed at saving the agreement for the
German company's merger with ITA Airways, European sources said
on Thursday.
According to an agreement reached last year, the German airline
is set to acquire 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 ice during talks late on Monday between
the German carrier and the Italian economy ministry (MEF), which
owns the company that replaced the loss-making former
flag-carrier Alitalia in 2021.
The German group reportedly wanted a reduction of around 10
million euros on the second tranche of just over half a billion
euros.
Sources said Lufthansa justified the request by referring to the
cost of some investments it made following the 2023 deal.
They said the ministry did not accept this because the
investments had been agreed on in advance and because ITA's
economic situation has improved and so, therefore, has its
value.
EU sources have said the deadline for the documentation on the
operation to be handed in so the European Commission can assess
it for final approval is November 11.
ALL RIGHTS RESERVED © Copyright ANSA
