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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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01-05-2024 10:45:17 (UTC+7)

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    EUR/USD 1.0658 ↑ Sell  
    GBP/USD 1.2475 ↑ Sell  
    USD/JPY 157.91 ↑ Buy  
    AUD/USD 0.6469 Neutral  
    USD/CAD 1.3780 ↑ Buy  
    EUR/JPY 168.32 ↑ Buy  
    EUR/CHF 0.9808 Neutral  
    Gold 2,295.80 ↑ Sell  
    Silver 26.677 ↑ Sell  
    Copper 4.5305 ↑ Buy  
    Crude Oil WTI 81.14 ↑ Sell  
    Brent Oil 85.62 ↑ Sell  
    Natural Gas 1.946 ↑ Sell  
    US Coffee C 213.73 ↑ Sell  
    Euro Stoxx 50 4,920.55 ↑ Sell  
    S&P 500 5,035.69 ↑ Sell  
    DAX 17,921.95 ↑ Sell  
    FTSE 100 8,144.13 Sell  
    Hang Seng 17,763.03 ↑ Sell  
    Small Cap 2000 1,973.05 ↑ Sell  
    IBEX 35 10,854.40 Neutral  
    BASF 49.155 ↑ Sell  
    Bayer 27.35 ↑ Sell  
    Allianz 266.60 ↑ Sell  
    Adidas 226.40 ↑ Sell  
    Lufthansa 6.714 Neutral  
    Siemens AG 175.90 ↑ Sell  
    Deutsche Bank AG 15.010 Neutral  
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