Lufthansa arrives in Rome for ITA Airways talks - report

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Talks begin as Rome and Lufthansa sign ITA Airways LOI

Italy’s Ministry of Economy and Finance said it has signed a letter of intent (LOI) with Lufthansa (LH, Frankfurt International) on the sale of a stake in state-owned flag carrier ITA Airways (AZ, Rome Fiumicino), allowing negotiations to start with the German carrier.

The announcement came just over a week after Lufthansa submitted an offer to Rome to discuss the initial acquisition of a minority stake and options to purchase the remaining shares at a later date.

“This afternoon the MEF signed the letter of intent from Deutsche Lufthansa AG to acquire a minority stake in ITA Airways. The document is preparatory for opening a private negotiation between the parties. No further details on the ongoing discussion will be disclosed,” the ministry’s brief statement dated January 27 said.

Lufthansa confirmed to the news agency Reuters that it had signed the LOI with both the ministry and ITA Airways, adding: “The parties will now start negotiations on the structure of a possible participation.”

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