ITA, Giorgetti’s first (surprise) move: exclusive termination with Certares

PNRR Giorgetti Goals at risk to worsen international scenarios

(Finance) – They cease today the exclusive obligations granted by August 31 to Certares, Air France-KLM and Delta. The interlocutions for the definition of a possible agreement for the transfer of control of Ita. This was announced on Ministry of Economy which in fact reopens the comparison also with the other consortium, driven by MSC and Lufthansa.

The new minister Giancarlo Giorgethas decided not to extend the exclusive negotiation with Certares, in commercial partnership with Delta and Air France-KLM, for the sale of 50% plus one share of the newco to the US fund. The negotiations started after the Draghi government last year August 31 had chosen Certares to the detriment of the consortium Msc-Lufthansa to privatize the newco, born from the ashes of the old Alitalia. In the note issued in August, the Ministry explained the decision by declaring that the offer presented by the consortium had been considered “more responsive to the objectives set by the DPCM”.

“At the conclusion of the exclusive negotiation – concluded the note from the dicastery in via XX Settembre -, binding agreements will be signed only in the presence of content fully satisfactory for the public shareholder “.

In recent days, moderate optimism seeped from Paris with Air France-Klm who had made it known that the negotiation with Mefsole shareholder of Ita, was moving forward. Clues all leading in one direction of a renewal of the exclusive negotiation also to give Certares more time to analyze the “huge” amount of Ita data it has recently accessed.

Except one sensational decision by the Mefwhich is arrived.

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