Negotiations between Lufthansa and the Italian government on the acquisition of ITA Airways have been delayed due to differences over the final purchase price.
The Italian government put the process on hold this week and demanded a clarifying discussion with Lufthansa management. According to media reports, Italy is expected to speak to Lufthansa CEO Carsten Spohr about the deal this weekend.
Lufthansa had originally planned to acquire 41 percent of ITA's shares for around 325 million euros, with a capital increase directly benefiting ITA. A further 49 percent is to be acquired at a later date, which is said to have led to a price difference of around ten million euros. While Lufthansa refers to contractual provisions that allow a reassessment of the price, Italy is pushing for the originally agreed price to be maintained. Lufthansa still expects the deal to be completed towards the end of the year.
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