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Italy to press ahead with plans to sell ITA despite MSC snub

ROME (Reuters) - Italy's government will press ahead with plans to sell a majority stake in airline ITA Airways, the successor to Alitalia, Economy Minister Giancarlo Giorgetti...
Italy to press ahead with plans to sell ITA despite MSC snub © Reuters. A new state-owned Italian carrier Italia Trasporto Aereo plane with the new blue livery is seen at Fiumicino airport before a news conference to present the aircraft's new fleet, in Rome, Italy, March 1, 2022. REUTERS/Remo Casilli
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ROME (Reuters) - Italy's government will press ahead with plans to sell a majority stake in airline ITA Airways, the successor to Alitalia, Economy Minister Giancarlo Giorgetti said on Tuesday, after shipping group MSC dropped its interest.

"We are open to anybody who wants to participate in the privatisation," Giorgetti told a news conference, adding ITA Airways's data room is "always open."

The privatisation is proving a headache for the Italian Treasury.

Rome reopened the process at the end of last month after an exclusivity period for talks with U.S. private equity fund Certares, Air France KLM (OTC:AFLYY) and Delta failed to produce a deal.

Shipping group MSC, which had partnered with German airline Lufthansa earlier this year to bid for ITA, said on Monday it was no longer interested in the transaction.

On the other hand, a Lufthansa spokesman said last week that the German carrier was still interested in buying into ITA.

The Treasury plans to privatise ITA through a direct sale while retaining a minority, non-controlling stake in the initial stage.

Rome this month appointed former Treasury official Antonino Turicchi as chairman of ITA Airways.

Turicchi, who also sat on the board of state-controlled bank Monte dei Paschi di Siena, took the place of Alfredo Altavilla, who resigned after a clash with several board members over strategy to complete the privatisation of the airline.

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31-03-2024 10:19:50 (UTC+7)

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    EUR/USD 1.0793 Sell  
    GBP/USD 1.2624 Sell  
    USD/JPY 151.38 ↑ Buy  
    AUD/USD 0.6522 Sell  
    USD/CAD 1.3543 Buy  
    EUR/JPY 163.37 ↑ Sell  
    EUR/CHF 0.9738 ↑ Buy  
    Gold 2,254.80 Buy  
    Silver 25.100 ↑ Buy  
    Copper 4.0115 ↑ Buy  
    Crude Oil WTI 83.11 ↑ Buy  
    Brent Oil 86.99 Neutral  
    Natural Gas 1.752 ↑ Sell  
    US Coffee C 188.53 ↑ Sell  
    Euro Stoxx 50 5,082.85 ↑ Sell  
    S&P 500 5,254.35 ↑ Sell  
    DAX 18,504.51 ↑ Buy  
    FTSE 100 7,952.62 ↑ Sell  
    Hang Seng 16,541.42 Neutral  
    Small Cap 2000 2,120.15 Neutral  
    IBEX 35 11,074.60 ↑ Sell  
    BASF 52.930 ↑ Buy  
    Bayer 28.43 Buy  
    Allianz 277.80 ↑ Buy  
    Adidas 207.00 ↑ Buy  
    Lufthansa 7.281 ↑ Sell  
    Siemens AG 176.96 ↑ Buy  
    Deutsche Bank AG 14.582 ↑ Buy  
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