Lufthansa close to getting go-ahead for Italy’s ITA Airways deal. Lufthansa wants the move to strengthen its position in Europe’s fast-growing aviation market. It has assured the EU that the takeover will not have adverse effects on fair competition on long-haul routes. Lufthansa says it is close to getting the go ahead from the European Union (EU) for its takeover of the Italian national carrier ITA Airways, with the EU competition authority about to sign off on it. Lufthansa’s shares fell 5.57% on Thursday evening, trading at €5.93. The deal is likely to be worth about €325 million for now and will allow Italy to dispose of ITA Airways, which has been a loss-making asset for a while now, therefore going some way towards plugging national finances. The deal needs to be finalised by 4 July, although the details may still change by then.
Lufthansa wants the move to strengthen its position in Europe’s fast-growing aviation market. It has assured the EU that the takeover will not have adverse effects on fair competition on long-haul routes. Lufthansa says it is close to getting the go ahead from the European Union (EU) for its takeover of the Italian national carrier ITA Airways, with the EU competition authority about to sign off on it. Lufthansa’s shares fell 5.57% on Thursday evening, trading at €5.93. The deal is likely to be worth about €325 million for now and will allow Italy to dispose of ITA Airways, which has been a loss-making asset for a while now, therefore going some way towards plugging national finances. The deal needs to be finalised by 4 July, although the details may still change by then.
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