The largest container shipping company in the world MSC has told Italian authorities that it is no longer interested in investing in ITA Airways as part of a planned privitisation.

MSC and German airline Lufthansa had expressed interest at the beginning of the year to acquire a majority stake in ITA Airways, the successor to Alitalia. However, the discussions did not come to an agreement.

“MSC did not now see the right conditions for a deal in the current process,” said the company in a statement.

Lufthansa seems to be still interested in buying into ITA despite MSC’s decision to pull out, according to a company’s spokesperson, reports Reuters.

Source : Container News