Alitalia shareholders back 300 mln euro cash call
Shareholders in loss-making Italian airline Alitalia approved on Tuesday a capital increase for up to 300 million euros ($407.58 million).
The shareholders have 30 days to decide whether to subscribe to the cash call as of Oct. 16.
Alitalia said in a statement that Poste Italiane was expected to guarantee an investment of 75 million euros if shareholders were not to buy into the entire cash call. Similarly, banks Intesa SanPaolo <ISP.MI> and UniCredit <CRDI.MI> would guarantee up to 100 million euros.
Alitalia said its board members were ready to resign after the rights issue due to the possible changes in the group's ownership structure.