Enter multiple symbols separated by commas

Italy Government Studying Options if Alitalia Sale Fails: Report

The Italian government is studying alternatives regarding the future of the troubled airline Alitalia if the privatization of the company fails, the daily Il Sole 24 Ore said without giving a source.

The government is seeking to sell at least a 39.9% stake in the airline. AP Holding, the owner of the airline Air One, and the investment fund MatlinPatterson are potential bidders. The deadline to present binding offers is July 12.

Prime Minister Romano Prodi and economy minister Tommaso Padoa-Schioppa are wary about the solidity of AP Holding's bid, while MatlinPatterson could seek to make a joint offer with other investors, according to the daily.

If the privatization were to fail, Prodi could be tempted to appoint an administrator to liquidate Alitalia and sell the business piecemeal, it added.

The government could also seek to reopen alliance talks, starting with Alitalia's industrial partner Air France-KLM, the newspaper said.

Contact U.S. News


    Get the best of CNBC in your inbox

    Please choose a subscription

    Please enter a valid email address
    To learn more about how we use your information,
    please read our Privacy Policy.

Don't Miss

U.S. Video

  • Hero miles for military members: Real estate magnate's plea

    Chairman of the Fisher House Foundation, Ken Fisher, discusses the Hero Miles program with CNBC's Dina Gusovsky. During Military Appreciation Month, Fisher is asking every traveler to donate 1,000 of their miles to replenish the Hero Miles programs that is in danger of running out.

  • Cramer shuts down this market's haters

    "Mad Money" host Jim Cramer on why this market can't stop, won't stop.

  • From the battlefield to the boardroom

    Your Grateful Nation is dedicated to helping Special Forces veterans enter the corporate world and Knot Standard provides complimentary suits to vets. Mad Money's Jim Cramer spoke with Rob Clapper, Your Grateful executive director; John Ballay, Knot Standard co-founder and president; Tej Gill, retired U.S. Navy Seal; and Darren McB, active duty U.S. Navy Seal.