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ITA Airways: Lufthansa bid arrived

No details, according to rumors about 200 million for 40% of the carrier

With the Lufthansa Group's interest in the acquisition of the national air carrier ITA Airways, made official yesterday, the unions ask the Government to be summoned to discuss the objectives of the business plan and the possible commercial and social effects of the operation. The Germans presented a letter of intent to the Ministry of Economy and Finance (Mef), which holds 100% of the capital. After the signing of the Memorandum of Understanding, it will proceed with the exclusive negotiation.

The minister made it known that "no other offers have arrived at the deadline set for 6 pm", so now "he reserves the right to examine the adequacy of the offer in compliance with the requirements set by the Dpcm (Ministeriale decree by the Italian Government)". For its part, Lufthansa did not provide details on the operation.

According to rumors circulated so far, the Germans should offer around 200-300 million euros to acquire a 40% minority stake. Lufthansa would have valued ITA Airways at around 500 million Euros and the investment was calculated on the basis of this. Furthermore, from an industrial point of view, there seems to be a commercial partnership with the Ferrovie dello Stato Group for the issue of a single ticket, which combines train and plane.

Lufthansa's investment should take place through a reserved capital increase. Only later should the German carrier acquire 100% of the company's capital. The Group based in Cologne specified that the negotiation with the MEF (Italian Finance Ministry) will focus "mainly on the forms and methods of the possible share investment, on the commercial and operational integration of ITA in the Lufthansa Group and on the synergies that will derive from it".

On the matter see also the article published by AVIONEWS.

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AVIONEWS - World Aeronautical Press Agency