The Ministry of Economy has announced that it has sent to the European Commission's Directorate General for Competition the agreements included in the planned remedies for the merger deal that will result in Deutsche Lufthansa entering the capital of ITA Airways, as established by the European Commission's decision of July 3, 2024. This is according to an official note. "The final approval of the European Commission is confidently awaited in order to proceed with the closing of the transaction," the statement continues, adding that "the economic conditions envisaged have not changed compared to the agreement already signed". After a weekend of intense negotiations, the MEF and the German airline giant reached a final agreement, which was promptly sent to Brussels in time for the 11:59 p.m. deadline. After tensions arose early last week, when Frankfurt had demanded a discount on the price - a move that had irritated the Treasury, which was determined not to give in to "blackmail" or "sell off" the newco - Lufthansa dropped its request for a rebate. "The economic conditions provided for" in the Italo-German alliance agreement signed in July 2023 "have not changed," the MEF specified in the note. It now "confidently" awaits the European Commission's final go-ahead to complete the deal. The European Antitrust Authority is expected to issue the final judgment without any further surprises. The latest phase of negotiations has focused on the second tranche of the total investment of 829 million euros to be paid by the German company, led by strict CEO Carsten Spohr, to gain control of the Italian airline born from the ashes of Alitalia.
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