(Finance) – Il MEF communicates that “it was formally notified this afternoon at the General Directorate of Competition of European Commission the concentration operation it envisages the entrance of Deutsche Lufthansa in the capital of ITA Airways“.
The confirmation comes with a note from the Treasury, after the German company has notified in Brussels of the intention to purchase 41% of ITA Airways for a total amount of 325 million euros. The agreement then provides options to purchase further shares at a later date.
The operation will have to be carefully evaluated by the competition authority European Union, to exclude any hypotheses of prohibited concentrations, pending the expected green light for the mid-January 2024. However, in the event of a request for clarifications or remedies to avoid market disruption, the EU Commission may take another 90 days to examine the dossier.
Once the operation has been launched, the two companies will be able to begin commercial collaboration.