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Lufthansa nears offer to buy Italy's ITA

Lufthansa Group submitted a plan of solutions to the European Commission required to protect antitrust EU approval to take a minority stake in ITA Airways, the German airline stated on Tuesday, bringing it an action more detailed to closing the deal after a disagreement with Italy's. Treasury last week put it on hold.

Lufthansa Group is positive that the EU Commission. will approve the plan of concessions in the coming weeks,. stated a Lufthansa spokesperson.

Lufthansa in July won EU antitrust approval to purchase 41%. of state-owned ITA, the successor airline to bankrupt Alitalia,. for 325 million euros ($ 354 million), in a deal designed to. improve its presence in the rewarding southern European market.

Nevertheless, Italy's Treasury had actually put the sale on hold last. week after it argued with Lufthansa over an evident 10 million. euro rate distinction.

In an indication that the cost spat has been gotten rid of,

the Treasury stated late Monday

that it had sent out the European Commission the bundle of. remedies needed to secure EU antitrust approval for the tie-up. and the organized financial conditions did not alter from the. already signed agreement..

(source: Reuters)