- Environmentalists slam lobbyist influence on plastic talks
- Global security hotspots awaiting Trump in 2025
- Eddie Jones tells Japan to keep faith after heavy defeats
- Five forgotten conflicts of 2024
- Adani Group says it lost nearly $55 bn as US charges sparked rout
- Bumper election year brings headwinds for liberal democracies
- New Zealand pace bowler Smith to make debut in first England Test
- Protesters for jailed ex-PM Khan cleared from Pakistan capital's centre
- 'Very, very slow': plastic treaty talks grind forward
- Australian cop guilty of manslaughter after tasering 95-year-old
- Trump names trade envoy, top economic advisor to fill policy team
- China expected to hit peak coal consumption in 2025: report
- What to expect from the new EU top team's first 100 days
- New EU commission to get all clear as daunting task awaits
- German family winery taps into zero-alcohol trend
- World leaders react to Lebanon war ceasefire
- Paddington: the affable bear who became a lucrative business
- Hand-built fantasy tower brings value to Tokyo, creator says
- Asian markets mixed as traders eye fresh trade tensions
- Ceasefire begins in Israel-Hezbollah war
- Banned Ryan Garcia eyes New Year's Eve exhibition in Japan
- In US, a guitar trademark feud gets political
- China investigates defence minister for corruption: report
- 'American Railroad' musical project showcases untold immigrant stories
- Future of deep-sea mining stands at a crucial juncture
- Australia marks 10 years since death of cricketer Phillip Hughes
- Russia accuses UK diplomat of spying in fresh diplomatic spat
- Teen who lied about beheaded French teacher's class says 'sorry'
- Drake takes Kendrick Lamar rap feud to US courts
- Bolivia announces $1 bn deal with China to build lithium plants
- NFL-best Chiefs and Lions face short-rest US holiday test
- Alleged smuggler had meth-soaked cow onesie in suitcase: US officials
- Man City blow three-goal lead in Champions League, Bayern beat PSG
- Arsenal deliver Champions League statement of intent: Arteta
- Man City not 'stable', says Guardiola after Feyenoord collapse
- League fines Hawks $100,000 for Young missing NBA Cup game
- Man City blow 3-0 lead to extend winless run in Feyenoord thriller
- Kim heads Bayern past 10-man PSG to dent Champions League hopes
- Lewandowski hits Champions League century as Barca beat Brest
- Inter take Champions League lead with narrow win over Leipzig
- Arsenal crush Sporting in Champions League to extend revival
- Ceasefire in Israel-Hezbollah war to take effect
- Egyptian clubs go on scoring sprees in CAF Champions League
- Biden hails Lebanon ceasefire deal as 'good news'
- Brazil's Bolsonaro 'participated' in 2022 coup plot against Lula: police
- Barcelona striker Lewandowski scores 100th Champions League goal
- Autos, food: What are the risks from Trump's tariff threat?
- Alvarez, Correa net braces as Atletico thrash Sparta Prague
- Trump brings back government by social media
- Animal rights activist on FBI 'most wanted terrorist' list arrested
RBGPF | 100% | 60.1 | $ | |
SCS | -1.33% | 13.54 | $ | |
BCC | -2.76% | 148.41 | $ | |
CMSC | -0.65% | 24.57 | $ | |
RIO | -1.53% | 62.03 | $ | |
NGG | -0.68% | 62.83 | $ | |
GSK | -0.38% | 34.02 | $ | |
CMSD | -0.61% | 24.43 | $ | |
BTI | 1.01% | 37.71 | $ | |
AZN | -0.06% | 66.36 | $ | |
RELX | 0.51% | 46.81 | $ | |
BCE | -1.46% | 26.63 | $ | |
JRI | -0.98% | 13.24 | $ | |
RYCEF | -0.29% | 6.78 | $ | |
BP | -1.24% | 28.96 | $ | |
VOD | -0.56% | 8.86 | $ |
Italy and Lufthansa reach deal on ITA Airways stake
The Italian government and Lufthansa reached a deal on the sale of a stake in flag carrier ITA Airways to the German airline, Rome announced Monday evening, hours before a midnight deadline to present the agreement to European regulators.
Both sides had been locked in tough negotiations on the price and terms of the deal, which will need to be cleared by the European Commission, the EU's antitrust regulator, to ensure fair competition.
Italian media reported that Lufthansa had asked for a 10 million euro discount on the 325 million euro ($346 million) purchase price of a 49 percent stake, which was refused by the government and led to stalled negotiations.
The sale comes after Lufthansa first bought a 41 percent stake in ITA in May 2023, also for 325 million euros, with the right to increase its stake to 100 percent in the medium term.
On Wednesday, Italian Economic Minister Giancarlo Giorgetti said the additional 49 percent stake would be sold for the same price.
"The economic conditions envisaged have not changed with respect to the agreement already signed," his office said in a statement, referring to the first deal.
Giorgetti also agreed to the European Commission's demands that a series of take-off and landing slots be transferred to other airlines to safeguard competition.
The German carrier had pointed to ITA's expected drop in value in the last quarter of 2024 as the reason for its discount request.
But an Italian government source told AFP last Tuesday that "Italy is not selling off its airline".
Faced with an impasse over the sale price, Giorgetti refused last Monday to sign a package of commitments concerning the deal to Brussels, unlike Lufthansa.
Asked by journalists about a possible summit meeting with Lufthansa CEO Carsten Spohr, Giorgetti replied that "it would be opportune".
J.Oliveira--PC