Lufthansa makes fresh concessions to Brussels on ITA stake [Yahoo! Finance]
DEUTSCHE LUFTHANSA S/ADR (DLAKY)
NASDAQ:AMEX Investor Relations:
investor-relations.lufthansagroup.com/en.html
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Source: Yahoo! Finance
"We can confirm that the parties have submitted commitments aimed at addressing the preliminary competition concerns arising from the proposed transaction. We will now carefully assess them," the spokeswoman said. A Lufthansa spokesman referred to a "comprehensive, constructive solution" to address the commission's concerns about the routes in question and the situation at Milan Linate Airport. The draft agreement was also compatible with the economic realities on the highly competitive Italian market, he said. Neither the commission nor Lufthansa provided details. However, Lufthansa expressed confidence that its purchase of a 41% stake in ITA, the successor to Alitalia, would be approved and that ITA would become part of Lufthansa this year. It emerged three weeks ago that the EU competition authorities were raising objections to the deal due to concerns that competition could be impacted on certain routes within and from Italy. Customers could face higher prices or reduced
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News
- EU decision on Lufthansa's ITA deal extended to June 13 [Reuters]Reuters
- Lufthansa, ITA to give up 11 slots in Milan to get EU go ahead for tie-up - newspaper [Reuters]Reuters
- Lufthansa Slated to Boost EU Offer to Save €325 Million ITA Deal [Financial Post (Toronto, Ontario, Canada)]Financial Post
- Lufthansa, ITA to propose further remedies for EU green light to tie-up [Reuters]Reuters
- Lufthansa flight attendants accept collective bargaining agreement [Yahoo! Finance]Yahoo! Finance