Deutsche Lufthansa AG (LHA.DE)
- Reuters
EU poised to veto Lufthansa's ITA deal unless substantial remedies offered, sources say
Lufthansa's bid to buy a stake in Italian peer ITA is set to be blocked by EU antitrust regulators unless there is a substantial improvement to remedies to address competition concerns, people with direct knowledge of the matter said on Thursday. Remedies offered last week are insufficient to allay the European Commission's concerns that the deal may reduce competition in short-haul and long-haul routes connecting Italy to other countries and also reinforce ITA's market power at Milan Linate airport, the people said. There is still time for Lufthansa to offer more remedies, they said, ahead of the Commission's July 4 decision.
- Reuters
Lufthansa's ITA deal faces EU veto unless stronger remedies offered, sources say
Lufthansa's bid to buy a stake in Italian peer ITA is set to be blocked by EU antitrust regulators unless there is a substantial improvement to remedies to address competition concerns, people with direct knowledge of the matter said on Thursday. Remedies offered last week are insufficient to allay the European Commission's concerns that the deal may reduce competition in short-haul and long-haul routes connecting Italy to other countries and also reinforce ITA's market power at Milan Linate airport, the people said. There is still time for Lufthansa to offer more remedies, they said, ahead of the commission's July 4 decision.
- Reuters
REFILE-Lufthansa offers short-haul compromise for ITA deal, sources say
Lufthansa has offered to keep some competing ITA short-haul routes in an effort to secure EU antitrust approval for its bid for a stake in the Italian airline, people with direct knowledge of the matter said on Thursday. The offer is part of a package of remedies submitted to EU competition enforcers last week to allay concerns that the deal could reduce competition on short-haul and long-haul routes connecting Italy with other countries and strengthen ITA's dominance at Milan Linate airport. Lufthansa wants to buy a 41% stake in state-owned ITA, the successor to Alitalia.
