Alitalia to announce bidders for stake by December 6

2007-11-30

Following a meeting of its board, Italy's state-controlled airline Alitalia said it expects to announce the bidders for a controlling stake in the airline by December 6.

The company said its financial adviser, Citigroup stated that contacts and discussions with the subjects involved are still being pursued, and it is foreseen that any possible proposal should be made by December 6.

Alitalia will immediately disclose the number of offers received and the names of the bidders.

The timetable for non-binding offers from candidates was initially set for the end of this week.

The Italian government, which expects to have a firm buyer for the airline before Christmas, has been struggling to sell its 49.9 percent stake in Alitalia. The carrier said potential suitors include Lufthansa, Air France-KLM, and Air One, Italy's second-biggest carrier by number of passengers.
Source: cargonewsasia
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