Italy Ready to Sell Half of Its Stake in Alitalia
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The move by the Italian government could help prepare the countryÂs flagship carrier to be taken over by Air France-KLM.
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Unions and executives at Italy's Alitalia reach a deal with the government on layoffs, opening the way for a wholesale restructuring.
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Alitalia, the Italian government-run airline, plans to lay off about 5,000 of its 21,000 employees in a move to avoid filing for bankruptcy protection.
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Alitalia's board of directors said Friday it had advised the Italian government to pursue an offer by Air France-KLM to rescue the near-bankrupt airline with a long-term investment of 6.5 billion euros (9.3 billion dollars).
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The Italian government said Wednesday it would decide by mid-January which of two contenders should take over Italy's ailing flag carrier Alitalia -- European giant Air France-KLM or Italy's Air One.
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Alitalia SpA said eight of its nine biggest unions agreed to a plan to split Italy&#39;s biggest airline in two, enabling the carrier to receive a loan to stay in business.
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LONDON/MILAN  - The London Stock Exchange  is to buy its Italian counterpart for 1.6 billion euros ($2.15 billion), a statement from the two confirmed on Saturday, the latest step in a global consolidation of exchanges.
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Its future at stake, Italy&#39;s flagship air carrier Alitalia said Monday it plans to cut 5,000 jobs - almost a fourth of its workforce - as part of restructuring efforts aimed at averting collapse.
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Air France-KLM, the world's largest airline by revenues, came a step closer Friday to controlling the near-bankrupt Alitalia after Italy's finance minister said it could begin exclusive takeover talks.
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Air France-KLM reveals that its offer for the Italian airline Alitalia is to be structured as a share swap.
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The Italian government approved exclusive talks between Alitalia and Air France-KLM, paving the way for the sale of the troubled national carrier.
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Alitalia's board of directors said Friday it had advised the Italian government to pursue an offer by Air France-KLM to rescue the near-bankrupt airline with a long-term investment of 6.5 billion euros.
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The Italian government has said it has decided to sell a controlling stake in flag carrier Alitalia through &quot;a competitive procedure and direct negotiations.&quot;
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Alitalia has reached agreement with the Italian government on a 400m euro (Â£275m) loan to aid the restructuring of the struggling airline.
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Five bidders have made the final round of the auction to buy Alitalia, which is being sold by the Italian government.
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French airline Air France-KLM said Wednesday that it was open to takeover talks with Italy&#39;s troubled Alitalia carrier, which is seeking a buyer, and with Iberia of Spain.
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The London Stock Exchange confirmed Saturday it was buying the Borsa Italiana for 1.6 billion euros (2.15 billion dollars) in shares, according to a joint statement.