Air France withdraws from Alitalia takeover
Apr 23, 2008
Mergers and Acquisitions
Air France-KLM has formally withdrawn it’s intention to buy Alitalia.As expected, the hitch arose due to differences with the unions, as well as the stand taken by the Italian government, which owns 49.9 % of the national carrier.
Silvio Berlusconi, the PM-in-waiting has made it clear he will not accept the Air France bid in its current form and that he hoped a consortium of Italian investors would come forward instead.
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