Stock Market News

Lufthansa may acquire stake in ITA Airways

2023.01.13 10:55


Lufthansa may acquire stake in ITA Airways

By Kristina Sobol  

Budrigannews.com – Three people who are familiar with the situation said on Friday that a bid from German airline Lufthansa for ITA Airways could come early next week. This would be an important step toward speeding up the complete privatization of Italy’s state-owned company.

The Italian government has had a hard time with the privatization of ITA, which officially takes over from Alitalia in 2021 and is losing money. In December, they passed a decree to sell a minority stake at first to make it easier to divest completely.

Two of the sources stated that potential bidders would no longer be able to access ITA’s financial data on January 18, adding that Lufthansa was the only credible potential bidder.

According to a government official, the new right-wing administration of Giorgia Meloni is confident that the deal will be completed before January 18.

Lufthansa didn’t say anything.

The government decree stipulated that another airline must acquire a majority stake in ITA following the privatization process’s conclusion, and that bidders could purchase stakes through one or more capital increases.

The value of ITA, which reported an operating loss of 170 million euros (183.62 million dollars) in the previous year, is estimated by industry sources to be around 500 million euros.

Lufthansa could initially acquire a 40% stake through a capital increase of between 300 million and 350 million euros, according to an anonymous source.

MSC announced in November that it was no longer interested in the transaction, after the German carrier had initially collaborated with the shipping group MSC to submit a bid for ITA.

Under a deal with the European Union, Rome could provide ITA with an additional 250 million euros this year. The previous government of Mario Draghi in Italy had pledged more than one billion euros for the institution.

More Wendy’s shares moved higher after buyback announcement

Lufthansa may acquire stake in ITA Airways

Related Articles

Leave a Reply

Back to top button
bitcoin
Bitcoin (BTC) $ 105,000.13 0.60%
ethereum
Ethereum (ETH) $ 3,342.76 1.58%
xrp
XRP (XRP) $ 3.13 1.01%
tether
Tether (USDT) $ 1.00 0.01%
solana
Solana (SOL) $ 258.42 4.53%
bnb
BNB (BNB) $ 689.23 0.89%
dogecoin
Dogecoin (DOGE) $ 0.354243 1.48%
usd-coin
USDC (USDC) $ 1.00 0.01%
cardano
Cardano (ADA) $ 0.98763 1.47%
staked-ether
Lido Staked Ether (STETH) $ 3,338.32 1.60%
tron
TRON (TRX) $ 0.253547 0.77%
chainlink
Chainlink (LINK) $ 25.55 2.13%
avalanche-2
Avalanche (AVAX) $ 37.87 7.05%
wrapped-steth
Wrapped stETH (WSTETH) $ 3,977.12 1.30%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 104,923.11 0.68%
hedera-hashgraph
Hedera (HBAR) $ 0.346563 4.78%
stellar
Stellar (XLM) $ 0.421596 1.57%
the-open-network
Toncoin (TON) $ 5.07 0.67%
sui
Sui (SUI) $ 4.19 0.50%
shiba-inu
Shiba Inu (SHIB) $ 0.00002 0.89%
weth
WETH (WETH) $ 3,343.69 1.61%
polkadot
Polkadot (DOT) $ 6.35 0.56%
litecoin
Litecoin (LTC) $ 124.16 1.63%
bitget-token
Bitget Token (BGB) $ 7.64 0.18%
leo-token
LEO Token (LEO) $ 9.78 0.16%
bitcoin-cash
Bitcoin Cash (BCH) $ 442.29 1.30%
hyperliquid
Hyperliquid (HYPE) $ 24.45 11.53%
uniswap
Uniswap (UNI) $ 12.23 0.29%
usds
USDS (USDS) $ 1.00 0.11%
wrapped-eeth
Wrapped eETH (WEETH) $ 3,536.44 1.65%
pepe
Pepe (PEPE) $ 0.000015 0.05%
official-trump
Official Trump (TRUMP) $ 31.29 11.58%
near
NEAR Protocol (NEAR) $ 5.08 3.82%
ethena-usde
Ethena USDe (USDE) $ 1.00 0.04%
aave
Aave (AAVE) $ 330.63 0.61%
aptos
Aptos (APT) $ 8.35 3.65%
mantra-dao
MANTRA (OM) $ 4.77 37.15%
ondo-finance
Ondo (ONDO) $ 1.45 0.94%
internet-computer
Internet Computer (ICP) $ 9.20 1.52%
monero
Monero (XMR) $ 224.65 2.78%
whitebit
WhiteBIT Coin (WBT) $ 28.44 0.04%
ethereum-classic
Ethereum Classic (ETC) $ 27.00 0.53%
mantle
Mantle (MNT) $ 1.20 0.39%
vechain
VeChain (VET) $ 0.048001 0.21%
crypto-com-chain
Cronos (CRO) $ 0.137829 0.02%
polygon-ecosystem-token
POL (ex-MATIC) (POL) $ 0.439238 1.79%
render-token
Render (RENDER) $ 7.05 3.08%
dai
Dai (DAI) $ 1.00 0.02%
algorand
Algorand (ALGO) $ 0.408873 2.10%
kaspa
Kaspa (KAS) $ 0.132449 1.82%