Tug of war with the Eurozone for the future of Ita and the deal with Lufthansa
The European Union’s antitrust is putting several obstacles to the marriage between Lufthansa and Ita Airways, but the two companies have no intention of taking a step back. Rather, they think about how to get around obstacles. Corriere della Sera writes about it today, explaining how Commissioner Margrethe Vestager’s offices are asking for “sacrifices which, to date, are considered unacceptable by Italians and Germans. It is no coincidence that a tug-of-war with Brussels will take place in April.”
At the moment, continues the Corriere della Sera, “si works on the entry of Lufthansa through the capital increase reserved for 325 million for 41% of Ita. Among the options, there is also a more “forced” maneuver: it is always based on the sale of 41% to the Germans, but without the change of control so as not to ask for EU approval”. With this hypothesis, Lufthansa would have two members out of five on the board of directors and would not appoint the CEO.
Reviewing the internal balance would be functional in circumventing the obstacles, with the Corriere della Sera that hypothesizes a German share of 19.9% and that of the Mef at 80.1% to avoid the notification obligation. While, concludes Corriere della Sera, “in the background there are those who advocate the return to negotiations of Mediterranean Shipping Company (MSC) of Gianluigi Aponte and sons”.