(ANSA) - ROME, NOV 12 - The Economy and Finance Ministry (MEF) and Lufthansa reached a breakthrough in talks late on Monday to overcome a problem that had put the German company's merger with ITA Airways on ice.
    The Treasury said the economic conditions envisaged in the 2023 contract for the merger "have not undergone any changes".
    As a result of the breakthrough, the documents for the operation were signed and sent to the European Commission for final approval before the deadline of midnight on Monday.
    According to an agreement reached last year, the German airline is acquiring from a 41% stake in ITA from the MEF through a 325-million-euro capital increase, with the stake set to rise to 100% in a second phase - by 2033 - for a total investment of 829 million.
    But the deal was put on hold last week after the German group reportedly asked for a reduction on the second tranche of just over half a billion euros.
    Lufthansa has reportedly waived the 'updating clause' of the price, which would have recalculated the value of ITA by around 100 million euros.
    The MEF owns ITA, the company that replaced the loss-making former flag-carrier Alitalia in 2021.
    In a statement, Lufthansa said it is now 'confident' that the EU will give the green light to the "remedies" package with the MEF for the acquisition of the 41% stake of ITA Airways.
    In July the Commission said it had given a provisional green light to the operation pending the fulfilment of some conditions, including the cession of some slots at Milan's Linate airport.
    "We consider the definitive agreement for the ITA Airways-Lufthansa merger to be extremely positive," said the Fit-Cisl trade union in a statement.
    "We await the appointment of the new management from whom we expect loyal collaboration and the launch of discussions with the union to illustrate the objectives of the new industrial plan and the commercial and social effects of the operation, especially on the employment side". (ANSA).