Deutsche Lufthansa AG may seek a 40% stake in Alitalia’s successor ITA Airways, Italian newspaper Il Foglio reported, citing unnamed sources.

The plan, which could be announced in coming days, would be subject to European Union approval, the paper said. The two sides are close to agreement on issues including financial consolidation and turning Rome’s Fiumicino airport into a hub for flights to Africa and for part of flights to the U.S., according to the report.

A spokesperson for ITA, asked to comment on the report, said no step on possible alliances can be taken before a strategic plan is presented to the company’s board on Jan. 31. The data room for potential bidders will open soon after, they said.

ITA Chairman Alfredo Altavilla said on Jan. 12 that his company aims to pick up the pace to secure an equity partnership by the middle of this year, adding that it was in talks with European and international companies.