Ita Airways, the Tesoro-Lufthansa negotiation goes into overtime – Corriere.it

The Ita Airways dossier goes into extra time. The Treasury-Lufthansa negotiations will continue beyond April 24, the last of the sixty (working) days established by the memorandum of understanding signed at the end of January between the ministry and the German company. The parties are still finalizing some details of the agreement which, if all goes well, could now be signed in early May. what he learns the Courierthus confirming what was anticipated on Saturday, that the two subjects are still separated by a few million euros.

The evaluation

Mef – sole shareholder of Ita – and Lufthansa aim to define the path (and the price) that will lead the Germans to enter the Italian airline first with 40% through a reserved capital increase, then to increase the share at a later time to buy the remaining 60% or something less from the dicastery. There has been much discussion on the valuation of 40% of Ita which, depending on the elements of the valuation, according to the experts should not exceed 250-270 million euros. So far, the Italian state has invested 1.12 billion euros in the carrier.

The file

Mouths sewn by the Treasury, by Lufthansa and by Ita. Above all because the game is not considered closed, even if the approach has in fact been agreed upon by the parties. If the Germans have preferred silence in recent days, the main protagonists have expressed themselves on the Italian front on the dossier. The operation defined in its structure – explained the president of Ita Antonino Turicchi on April 19 -: then that someone wants to change a comma is part of a negotiation. The negotiation is very advanced, added the Minister of Economy Giancarlo Giorgetti the next day. Emphasizing that a complex dossier, with many variables, but I think that in days we will have an outcome that I hope will be favourable.

The words of the premier

Over the weekend, in an interview on Milan Finance, the Prime Minister Giorgia Meloni also expressed herself. Ita has turned the page, replied the premier. We solved a situation that seemed impossible, nobody had done it. Now Lufthansa will have to ensure that Italy is at the center of its interests, present an effective, expansive industrial plan that serves the trade and tourism routes. Thus repeating the guidelines of the last dpcm which establishes the transfer of the minority stake.