FRANKFURT, GERMANY — Lufthansa has submitted its bid today for a minority stake in ITA Airways, the successor of the failed airline Alitalia. The German carrier did not disclose any details of the offer.

The Italian government, as the sole owner of ITA, will now evaluate whether to begin exclusive negotiations with Lufthansa for a final purchase agreement.

Lufthansa is also seeking an option to acquire the remaining shares later on. Specific figures were not given, but sources say that the negotiations have been for an initial 40% stake, worth about 300 million euros.

Also read: Lufthansa submits ITA bid tomorrow
Previously, negotiations with The American investment company Certares did not lead to a conclusion because the Italian government is planning to sell ITA's shares to airlines only.

It is expected to take five to six months until the transaction is complete.