Source AP ©

Milan stock exchange: Alitalia shares up before bid deadline

Alitalia shares were up Monday before the expiration of a deadline to submit bids to the Italian government for the struggling airline.

Shares were trading up 2 percent at EUR1.032 (US$1.40) on the Milan stock exchange.

The three final bidders have until the end of the work day to submit final nonbinding offers for the airline.

The bidders are: Italy's Unicredit SpA and Russian airline Aeroflot; New York-based asset management group Matlin Patterson Global Advisers LLC and Texas Pacific Group pooling their bid with Italian investment bank Mediobanca; and AP Holding SpA, led by Carlo Toto, chairman of Air One.

Italy, which controls a 49.9 percent share of Alitalia, intends to sell at least a 39.9 percent share to a buyer with a turnaround plan. Under the latest terms outlined by the government, bidders must guarantee Alitalia will retain an Italian identity for at least eight years and set out terms of a business plan to turn around the airline.

The government wants to complete the privatization by the end of June.

Comments
Russia disposes of US government bonds to buy more gold
Russia disposes of US government bonds to buy more gold
Serbia will recognize Kosovo only over its dead body
Russia disposes of US government bonds to buy more gold
Russian party girl Nastya Rybka refuses to please Washington
Photodynamic Therapy: the light for a new era in the treatment of dental infections
Putin does not exclude war with Ukraine in Donbass
Trump versus the Traitors on Capitol Hill
Putin does not exclude war with Ukraine in Donbass
Serbia will recognize Kosovo only over its dead body
Serbia will recognize Kosovo only over its dead body
Serbia will recognize Kosovo only over its dead body
Militant Greek atheist Alexis Tsipras betrays his people, Orthodoxy and Russia
Militant Greek atheist Alexis Tsipras betrays his people, Orthodoxy and Russia
Militant Greek atheist Alexis Tsipras betrays his people, Orthodoxy and Russia
Putin does not exclude war with Ukraine in Donbass
Militant Greek atheist Alexis Tsipras betrays his people, Orthodoxy and Russia
Serbia will recognize Kosovo only over its dead body
Russia reveals new videos of Putin's new formidable weapons being tested
Putin does not exclude war with Ukraine in Donbass
Putin does not exclude war with Ukraine in Donbass