ROME, Feb 2 (Reuters) – Italy’s Treasury is studying a decree detailing ways to sell stakes in state-owned carrier ITA Airways under an open and market-based procedure, two sources close to the matter said.
The move would keep the door open to other potential suitors, snubbing a request for immediate exclusive talks presented by shipping group MSC and Germany’s Lufthansa LHAG.DE.
The two partners last week expressed interest in buying a majority stake in ITA, the successor to Alitalia, and asked for an exclusivity period of 90 days to iron out details of the acquisition.
In a recent interview, MSC Group founder Gianluigi Aponte said it was “likely” ITA could be worth up to 1.5 billion euros and added the deal could close much earlier than 90 days.
Under the Treasury-championed procedure, still to be finalised, the decree would require the signature of Prime Minister Mario Draghi before being sent to the country’s audit court for approval.
ITA Airways declined to comment.
The Italian carrier took over from Alitalia in October, permanently grounding the 75-year-old, one-time symbol of Italian style and glamour after years of financial losses and failed rescue attempts.
(Reporting by Giuseppe Fonte and Francesca Landini; Editing by Leslie Adler)
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