FRANCFORT (dpa-AFX) – Despite the extension of the competition examination by the European Commission, Lufthansa continues to hold on to its stake in the Italian national airline Ita. The MDax group announced on Tuesday that it would strongly commit to a swift conclusion of the examination and the subsequent implementation of the stake. The assumption of approval for the transaction remains unchanged.
According to Lufthansa, Ita Airways is expected to become a complementary and important part of the Lufthansa Group. The largest airline group in Europe in terms of revenue already operates several hubs with the four airlines in the Lufthansa network, Austrian, Swiss, and Brussels. We are convinced that a stake in Ita will have positive effects on competition in Italy and Europe, the statement continues.
The EU competition authorities have so far refused Lufthansa’s planned entry into Ita and have launched an in-depth investigation into the competition law implications. A preliminary investigation showed that the merger could reduce competition on certain short and long-haul routes, the European Commission said on Tuesday. The extension of the merger control is limited to June 6th./ceb/DP/jha
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