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’Air France-KLM buys 25% of Alitalia
Air France-KLM, which just months ago said state-controlled Alitalia needed to be saved by an exorcist, on Monday trumped Lufthansa to buy a 25% stake in the relaunched Italian airline from its new Italian owners for about €323m ($432m).
Consortium moves for Alitalia assets
A consortium of Italian investors on Monday submitted a conditional offer of about €400m ($584m) for some assets of Alitalia, the loss-making flag carrier that was placed in receivership last week. Sources inside the consortium said the offer was valid for a few weeks and had conditions attached,
Che brutta, Alitalia
So who’s willing to invest in an Italian company that’s been deeply unprofitable for the past five years? Only the Italians it seems.
After two failed attempts to sell the airline,
Brazilian designs on Alitalia “can’t be verified”
Surprise! It appears that the Brazilian bid for ailing Italian airline Alitalia may not be entirely kosher.
We questioned the purported interest from Brazilian company Multi-Long, fronted by one Michael Breslow on Tuesday.
Is the Alitalia bidder for real?
Surely not. It can’t be. No way!
Michael Breslow, the reported chief executive of an alleged Brazilian company called Multi-Long Corp, cannot be the latest incarnation of our famous Gold Fields bid hoaxer,
Rome approves emergency Alitalia loan
Italy’s centre-left government on Tuesday night approved a €300m emergency loan to keep Alitalia from bankruptcy, despite a warning from Brussels that further state aid for the stricken flag carrier could lead to court action.
Air France-KLM withdraws Alitalia bid
Air France-KLM on Monday night withdrew its offer to buy Alitalia, presenting the incoming government of Silvio Berlusconi with the prospect of persuading an unwilling Italian consortium to take over the lossmaking airline or start bankruptcy proceedings.
Italy pushes to revive Alitalia talks
Italy’s centre-left government on Thursday appealed to Jean-Cyril Spinetta, head of Air France-KLM, in a desperate effort to revive collapsed takeover talks with Alitalia’s trade unions and avert looming bankruptcy of the national flag carrier.
Alitalia teeters as talks fail
Alitalia, the Italian airline, was Wednesday night considering whether to start bankruptcy proceedings after Air France-KLM pulled out of takeover talks. Maurizio Prato, Alitalia chairman, resigned after talks with trade unions broke down over proposed job cuts.
Air France-KLM launches Alitalia bid
Air France-KLM, the leading European airline, made a conditional takeover bid for Alitalia at the weekend, which gained immediate backing by the board of the nearly bankrupt, state-dominated Italian flag carrier.
Airline takeovers: It’s a ‘nasty, rotten business’
Anyone would be forgiven for thinking Air France-KLM is a private equity firm. At least, the Franco-Dutch group — itself the product of a 2004 merger – seems to be making a speciality out of shopping for what sometimes could only be described as “challenged”
Top of the silly season: Buffett, Merrill, China SWF, Alitalia
Just in case you missed them:
Buffett spends big on acquisitions
Warren Buffett, the US billionaire investor, made some striking moves in late December: On Christmas Day, Buffett’s group Berkshire Hathaway used $4.5bn of its $50bn cash pile to buy 60% of Marmon,
Air France favoured for Alitalia
Italy’s divided government is close to reaching internal agreement to enter into exclusive negotiations with Air France-KLM over the sale of Alitalia. Ministers, however, want to postpone an announcement from the earlier deadline of this week until January to avert strike action by unions over Christmas,
Alitalia board to mull rival offers
Alitalia’s board will meet Tuesday to recommend a buyer for the Italian government’s 49.9% stake in the loss-making airline following a last-minute increased offer from Air One, which is fighting to fend off its bigger rival,
Air France and Air One move on Alitalia
Air France-KLM and Air One on Thursday submitted rival non-binding offers to take control of loss-making Alitalia from the Italian government, in the next stage of consolidation for the European airline industry.
Air France-KLM eye merger deals
Air France-KLM, the European airline, is studying potential merger moves with either Alitalia or Iberia. Jean-Cyril Spinetta, chairman and chief executive, who led the KLM takeover in 2003, told the FT the “consolidation process is not finished – there will be other steps”.
Italy pulls Alitalia sale as bidders flee
The Italian government on Wednesday night formally ended the Alitalia sale process following the withdrawal of the last potential bidder. The bidding group involving Air One, the Italian airline, withdrew on Tuesday night citing problems with the sale conditions.
The interminable Italian saga of Alitalia, again
Dolores! Alitalia is beginning to look very unloved – as opposed to just disliked – and the Italian government’s sale process is looking more and more like an old auntie’s white elephant auction.
With only one potential bidder left in the process – Gruppo Toto,
Aeroflot withdraws from Alitalia bidding
The privatisation of Alitalia, the heavily loss-making Italian flag carrier, was thrown into disarray on Wednesday when the consortium led by Aeroflot, the Russian state-controlled airline, withdrew from the bidding.
Aeroflot threatens Alitalia sell-off
Alitalia’s privatisation was thrown into doubt on Monday when Aeroflot, the Russian carrier bidding for Italy’s loss-making national airline, expressed dissatisfaction with the government’s handling of the sale.
Bank to evaluate Alitalia privatisation
Credit Suisse, the investment bank, was appointed Thursday to conduct an independent evaluation of Alitalia’s privatisation as a struggle broke out over the true condition of Italy’s loss-making national airline.
TPG moves in on Alitalia
TPG and partners have earmarked €5bn ($6.8bn) to buy Alitalia, according to an Italian newspaper, while Russia has reiterated support for a rival bid, from Aeroflot, reports Reuters. La Stampa reported on Monday that TPG and its consortium partners had earmarked €1.2bn for the bid,
Aeroflot joins contest for Alitalia
Aeroflot, Russia’s largest airline, emerged on Monday as a contender in the race to buy Alitalia, as the contest for the Italian flag-carrier narrowed to three consortia. Alitalia’s shares soared by 9 per cent to €1.02 as investors reacted to news that the state-controlled Russian flag-carrier had thrown its hat in the ring with the support of UniCredit,
Italian teacher posts fake interest in Alitalia
An Italian high school aviation teacher became a minor celebrity in Italy on Tuesday by slipping through a fake plan to buy ailing Alitalia as a protest against years of mismanagement, reports Reuters.
Eleven may bid for Alitalia
Initial interest in the sale of Alitalia far exceeded expectations with 11 groups saying they could go on to bid for the stricken airline before the deadline on Monday night. The Italian government said it would review the “manifestations of interest”
Banks join alliances for Alitalia
A number of powerful investment groups such as Goldman Sachs and Texas Pacific are likely to be part of several groups expressing interest in the takeover of Alitalia by the deadline next Monday. Three or four groups seem certain to register an interest in the sale and they are set to include Air France-KLM and Air One,
Board exit prompts more Alitalia speculation
Air France-KLM kept open the possibility of bidding for Alitalia when Jean-Cyril Spinetta, chief executive of the Franco-Dutch airline, resigned from the Italian carrier’s board less than two weeks before the bidding process closes.
Alitalia sale conditions may deter bidders
Businessmen should clearly take risks but should not behave like kamikaze pilots. That was the blunt assessment of Luca di Montezemolo, the Italian employers confederation chairman, on the Rome government’s latest privatisation and rescue plans for Alitalia.
Air France-KLM could team up with others on Alitalia
Another twist in the Alitalia pantomime. Italian paper Finanza & Mercati reports that Air France-KLM, the main source of interest in the loss-making Italian carrier, is exploring teaming up with other airlines in its SkyTeam alliance to make an offer for Alitalia.