Rome warns Brussels not to hinder Lufthansa's ITA airline bid [Yahoo! Finance]
DEUTSCHE LUFTHANSA S/ADR (DLAKY)
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Source: Yahoo! Finance
Italian Transport Minister Matteo Salvini said a rejection from Brussels would be a "serious attack on Italy, to which we will not stand idly by." Salvini, leader of the right-wing League of Italy party, said such a step could lead to the loss of thousands of jobs. ITA was formed in 2020 after a restructuring of the failed Italian flag carrier Alitalia, which Rome acquired when various takeover bids failed. After months of negotiations, Lufthansa agreed with the Italian government last May to take over a minority stake of 41%. In return, ITA is to receive €325 million ($352 million) in equity from Lufthansa. Lufthansa could later acquire a further 49%, then the remaining 10%. A final decision is to come in June, but so far, the European Commission has objected on competition grounds. Salvini, who is also Italy's deputy prime minister, said: "If it is true that Brussels is waiting until the day after the European elections to deny the agreement between ITA and Lufthansa, t
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