German airline giant Lufthansa submitted a fresh offer on Wednesday for Italy's troubled ITA Airways, bringing a turbulent takeover process closer to the finish line.
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Lufthansa’s proposal would see the carrier initially take a minority stake in state-owned ITA, with the option “to purchase the remaining shares at a later date”, it said in a statement. Italy’s previous government launched the process last year of selling off a majority of ITA Airways, the successor to loss-making national carrier Alitalia.
But when those negotiations failed to make headway, Italy’s new, right-wing cabinet under Prime Minister Giorgia Meloni declared in late October that the period of exclusivity talks had ended — putting Lufthansa back in the running.
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