FRANKFURT, GERMANYLufthansa is in talks with Italy's new state-owned flag carrier ITA Airways (Italia Trasporto Aereo ) to buy a 40% stake in the company.

The talks about a tie-up between Germany's partly state-owned Lufthansa and ITA Airways are still ongoing with all outcomes possible, one of the sources said on condition of anonymity, adding the stake price was still under negotiation.

According to the sources familiar with the matter, Lufthansa and ITA were in talks over a 40% stake sale, but it could take longer than a few days to reach a comprehensive deal.

A Lufthansa spokesperson declined to comment but reiterated an earlier statement that the German carrier was open to the possibility of a partnership with ITA.

Via Reuters