ROME, Dec 22 (Reuters) – Further months of talks are required to secure European Union approval of German carrier Lufthansa LHAG.DE buying a minority stake in Italian state-owned ITA Airways, Rome’s economy minister said on Friday.
Minister Giancarlo Giorgetti said the European Commission, the EU’s executive arm, was set to launch an in-depth investigation into the proposed deal, because “according to them” there are antitrust issues to be resolved.
Late last month, Lufthansa and Italy sought EU antitrust approval for the deal under which the German airline would acquire a 41% stake in ITA for 325 million euros ($358.35 million) as part of a capital increase.
($1 = 0.9069 euros)
