Turkish national carrier Turkish Airlines confirmed late on Friday that it had pulled out of talks on a potential partnership with LOT Polish Airlines.

Announcing the withdrawal from talks in a statement to the Istanbul Stock Exchange, the company said the possible deal would have made a limited contribution to its medium-to-long term plans.

However, citing unnamed source, Rzeczpospolita wrote that the real reason for the surprising decision is that, according to European Union law, an investor from outside the bloc is not allowed to acquire a stake of more than 50 percent in an EU-based airline.

Poland A.M.