Germany’s Lufthansa in talks to buy 40% stake in Italy’s ITA Airways

Germany’s flagship carrier Lufthansa is in talks to buy a 40 per cent stake in state-owned Alitalia’s successor ITA Airways, two people familiar with the negotiations said on Sunday, following a newspaper report that a deal could be unveiled next week.

The second source said Lufthansa and ITA were in talks over a 40 per cent stake sale, but it could take longer than a few days to reach a comprehensive deal. An ITA spokesperson, when asked for comment by Reuters on a potential investment by Lufthansa, did not mention Lufthansa but said that the airline’s top management would present a strategic plan to the company’s board on January 31st. A data room would then be opened in the following days, he added, allowing a potential bidder or partner to have access to key financial documents to assess the value of the company.

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