Source AP ©

Aeroflot pulls out of bidding for stake in Alitalia

Russian Aeroflot announced Wednesday that had withdrawn from the bidding to buy a large stake in Italy's Alitalia SpA.

"Aeroflot and its advisers have not had access to critical information with respect to the commercial and operational aspects of Alitalia's business," the company said in a statement.

Under the terms of the competition, the buyer of the 49.9 percent stake would have to shoulder Alitalia's debt, which totaled more than EUR1 billion (US$1.3 billion) in December. That could put a heavy burden on the Russian company, which announced billion-dollar deals with Airbus and Boeing Co. in the past month.

Russia's biggest carrier said that it was still committed to expansion on the European market "by increasing its operational activities as well as acquiring strategic assets."

The announcement appears to open the way for AP Holding SpA, the parent company of Italy's second largest carrier, Air One, to buy the stake.

Comments
Presidential and midterm elections in the USA change the 'American project' entirely
Paris Peace Forum: A First Step but watch the Lobbies
Paris Peace Forum: A First Step but watch the Lobbies
Without INF Treaty, USA can destroy Russian nuclear weapons easily
Without INF Treaty, USA can destroy Russian nuclear weapons easily
Russia close to recognising Donetsk and Luhansk republics after Donbass elections
Norwegians complain of demoralised NATO soldiers
Mikhail Gorbachev shares his thoughts on nuclear war
2018: A critical lack of common sense in world governance
2018: A critical lack of common sense in world governance
Russia unveils nuclear-powered interstellar spaceship
Without INF Treaty, USA can destroy Russian nuclear weapons easily
Russia close to recognising Donetsk and Luhansk republics after Donbass elections
The difference between Polish and Ukrainian nationalism is plain to see
The difference between Polish and Ukrainian nationalism is plain to see
Capital outflow from Russia sets new records
World War II still continues today for the purpose of Anglo-Saxon global domination
Five-year-old boy does 4,105 pushups in 2 hours 25 minutes
On the report of Human Rights Watch against the DPRK
Without INF Treaty, USA can destroy Russian nuclear weapons easily
Russia unveils nuclear-powered interstellar spaceship