Lufthansa mulls over participation in MSC acquisition of Alitalia’s successor ITA
German carrier Lufthansa is reportedly deciding whether to participate in the acquisition of Italian airline and Alitalia’s successor ITA with shipping giant MSC.
Lufthansa confirmed to Reuters it was in talks with the Swiss shipping company to become a partner in the deal.
“We will use the next 90 days to explore all possible options for cooperation, including a possible equity investment,” the carrier told the news agency.
Alfredo Altavilla, chief executive of ITA Airways, has welcomed the news, telling German newspaper Handelsblatt the offer’s industrial logic was “very convincing” and “extremely interesting.”
“The Italian government must now decide whether to grant MSC and Lufthansa these exclusive talks,” he said, adding that if granted, 90 days is “a reasonable period of time to reach a result.”
The Italian chief executive has not commented on how the shares will be divided, but according to Reuters sources Lufthansa is set to go in for a 40 per cent stake of the company.
“That is part of the talks that MSC and Lufthansa will have,” Altavilla told the German outlet. “Lufthansa’s share will be determined during the due diligence process.”
On 12 January, Altavilla announced the airline was looking for a partner to ‘put money on the table’ and invest in an equity partnership, City PM reported.
“We don’t need code sharing or a commercial joint venture. If you put money on the table, you play; if you don’t put money on the table, you can avoid asking for access to the data room,” he said during a parliamentary hearing in Rome. “We are looking for an equity partnership.”