EU commission approves Lufthansa purchase of long-troubled Italian airline ITA, with conditions

AP Business Writer

MILAN (AP) — The European Commission has approved Lufthansa’s takeover of Italian airline ITA with conditions to protect competition. Italian Finance Minister Giancarlo Giorgetti on Wednesday called the deal “historic,” and said it would bring an end to a long period of state help. Lufthansa will invest 325 million euros ($350 million) to acquire a 41% stake in ITA, formerly Alitalia, from the Italian government, gaining full control by 2033 with a total investment of 829 million euros. The commission approved the deal after a year-long investigation and with conditions to protect competition, noting that Lufthansa, ITA and its partners, for example, control most routes from Rome and Milan to North America.