German Lufthansa Group has finalized its acquisition of Italian airline ITA Airways, closing a long period of uncertainty for Italy's former flagship carrier.

Germany's Lufthansa Group on Friday finalised its acquisition of Italian airline ITA Airways, closing a long period of uncertainty for Italy's former flagship carrier.

Germany's Lufthansa announced on Friday that it has taken the first step towards a takeover of Italy's state-owned ITA Airways by completing an approved capital increase of €325 million ($334 million).

Lufthansa Group officially purchased a 41% stake in ITA Airways Jan. 17 with its capital infusion of €325 million ($334 million), making the Italian carrier its fifth network airline. The remaining 59% of ITA will initially continue to be held by the Italian Ministry of Economy and Finance (MEF)...

Germany's Lufthansa Group has completed its long-sought acquisition of Italian carrier ITA Airways, finalising on 17 January its acquisition of a two-fifths stake in the company.

The MEF pointed out the divestiture of ITA Airways as one of the highlight-worthy moments of its tenure, noting that the Lufthansa Group’s purchase of the Italian airline’s 41% shares through a capital increase will conclude a 40-year history of wasting taxpayers’ money.

German airline giant Lufthansa's investment in the Italian state-owned airline ITA Airways, which Lufthansa executives expected to be announced on Monday, may face last-minute delays. The closing of the long-agreed deal had not been announced by Monday afternoon,

Lufthansa finalised its acquisition of a 41% stake in Italian state-owned airline ITA after European antitrust remedies were put in place, it said on Friday, in a deal designed to boost the carrier's presence in the lucrative southern European market.