ITALY - Alitalia attracts interest from private equity firm

Vestar's frontman Marco Mantica, has reportedly said that freedom of action during the company's restructure would create remarkable value. However, limitations imposed by the government make things difficult for a private equity firm: it will seek conditions such as guarantees on service and staffing levels from all prospective buyers and not simply accept the highest offer. It is understood that Alitalia last month said it expected to post a loss of over EUR 220m in 2006. Rumor has it that the airline has been trading in the red since 2002. The Italian government expects to complete the sale by the end of H107.

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