Reports: Lufthansa, Italy talks stall over Ita airline purchase price [Yahoo! Finance]
DEUTSCHE LUFTHANSA S/ADR (DLAKY)
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Source: Yahoo! Finance
Just before the deal was agreed, the Italian government and the German airline disagreed over whether the price should be reduced, Corriere della Sera and Il Sole 24 Ore newspapers reported, citing informed sources. Lufthansa, Germany's flagship airline, reportedly insisted on adjusting the price after Ita lost value over the past six months. But the Italian Finance Ministry reportedly halted the talks for the time being, refusing to accept a lower sum. A ministry spokeswoman refused to comment on the reports. A Lufthansa spokesman said that the company was adhering to the contract signed in 2023, which provides for price adjustments under certain conditions. The plans allow Lufthansa to initially take over 41% of Ita shares for a capital contribution of €325 million ($354 million). Over the next few years, it could then take over Ita completely for more than €800 million. The European Commission approved the plans albeit with a series of conditions to ensure fair competiti
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