Italy's economy minister said Italy will end up with a far from negligible stake in Air France-KLM after the French carrier buys Alitalia.
Air France-KLM officially kicked off eight weeks of exclusive talks with Alitalia yesterday and is expected to work out a deal to buy the airline and try to drum up local support for the offer.
Alitalia's unions said they were not satisfied after their first meeting with the government since Air France-KLM was picked as the preferred buyer last month.
Economy Minister Tommaso Padoa-Schioppa said rival bidder Air One's proposed offer was excessively optimistic and inferior.
Air One - backed by some politicians and unions ¨C has continued lobbying against Air France in the hope of getting back into the battle for Alitalia.
Air France-KLM has proposed a share swap offer for Alitalia, which would leave the Italian state with a stake in the new group since it owns 49.9 percent of Italy's national carrier.
Italy was initially expected to end up with a three percent stake, but a union briefed on the matter has said the country could have as much as five percent if Alitalia's ground services unit, AZ Servizi, was also included.
Separately, a source close to Air France-KLM said the French carrier would treat Alitalia on a par with its Air France and KLM units after a deal.
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