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ITALY - Bidders to present offers for Alitalia today

  • Angelica Mari
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By the end of this afternoon, prospective buyers of Alitalia will present their offers for a stake of up to 39.9% in the airline. The offers should be presented by 5pm CET, along with preliminary business plans until 2012, shareholding to be purchased and an indication of the price to be paid per share. Bidders will also have to indicate their financing sources.

Rumour has it that offers may reach over EUR 2bn. The coalitions competing for the airline are Texas Pacific Group (TPG) and MatlinPatterson, backed by bank Mediobanca; fellow airline Air One, supported by bank Intesa-SanPaolo and Russian carrier Aeroflot, backed by a pool of American investors and bank Unicredit. Rumour has it that the latter may close a last minute alliance with Air France and Dutch airline KLM.
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