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Alitalia taken over by Air France-KLM in €138m deal
Summary from multiple countries, from articles in English
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The board of Alitalia, Italy's loss-making, debt-laden and partly state-owned airline, has agreed to a €138 million ($106 million) takeover offer from Air France-KLM, one of the world's biggest carriers. (article 4)
Barring any last-minute obstacles and subject to government and union approval, it should end a 13-month saga in which numerous attempts to find a viable buyer for the airline had come to nothing. (article 4)
Attempts to sell the national carrier caused a dispute within the Italian Government, with the radical Left opposed to foreign buyers and to the inevitable loss of jobs. (article 4)
ROME - Alitalia's board has unanimously accepted Air France-KLM's bid valued at US$1.1 billion in a move to save the struggling national carrier. (article 2)
Alitalia's board issued a statement accepting the offer after a marathon meeting that went some 16 hours into early Sunday. (article 2)
The bid was pitched much lower than expected and was far below the Alitalia closing price on Friday at an all-time low of 54 cents a share. (article 3)
Even though the current Italian government is likely to agree early this week to the sale, several obstacles to a takeover remain. (article 3)
Its lead has been followed by Germany's Lufthansa, which took over Swiss International Air Lines in 2005 (article 3)
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Other summaries about this story:
Event tracking:
Story keywords
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Alitalia, KLM, France, Air, Italian |
Source articles
- Alitalia accepts Air France offer (BBC News, 03/16/2008, 251 words)
- Alitalia board unanimously accepts Air France's binding offer for failing Italian airline (cbc.ca, 03/16/2008, 376 words)
- Air France-KLM bids for Alitalia (ft.com, 03/16/2008, 824 words)
- Alitalia taken over by Air France-KLM in €138m deal (business.timesonline.co.uk, 03/17/2008, 419 words)
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blaster@cs.columbia.edu
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