|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's range||8.62 - 8.62|
|52-week range||6.86 - 11.80|
|Beta (5Y monthly)||1.51|
|PE ratio (TTM)||4.90|
|Forward dividend & yield||N/A (N/A)|
|Ex-dividend date||08 May 2019|
|1y target est||N/A|
FRANKFURT/ROME (Reuters) -Lufthansa AG and Italy sought EU antitrust approval on Thursday for the German airline to buy a controlling minority stake in Italy's ITA Airways, with sources saying that Lufthansa is prepared to cede slots at Milan airport to address competition concerns. Lufthansa will acquire a 41% stake in ITA for 325 million euros ($354.71 million) as part of a capital increase, a Lufthansa company spokesperson said. This followed an agreement in June between the Italian Ministry of Economy and Finance (MEF) and Lufthansa on the minority stake buy.
Lufthansa and the Italian state airline ITA Airways could give up take-off and landing slots at Milan-Linate airport to try and win approval for their merger from the European Union's competition authority, three sources told Reuters. Lufthansa wants to acquire a 41% stake in ITA with a view to taking it over completely. The EU Commision is obliged by the bloc's laws to ensure that mergers do not damage competition to the detriment of consumers.
Italy blocked French group Safran's planned $1.8 billion purchase of the flight control systems arm of Collins Aerospace because it could have threatened supplies to national armed forces, Prime Minister Giorgia Meloni said on Wednesday. Safran said on Monday that Rome had vetoed its acquisition of Microtecnica, Collins Aerospace's Italian subsidiary, using its "golden power" to halt the takeover of what it deems a strategic asset. The decision was taken to avoid "potential" risks "for the readiness of our armed forces" and "potential interruptions of our logistics chain", Meloni said in Berlin after a meeting with German Chancellor Olaf Scholz.