ROME, Sept 17 — Italy's government yesterday extended the deadline to October 15 for its troubled national airline, Alitalia, to secure a viable takeover bid.
“Minister for Economic Development Stefano Patuanelli authorised the delay extension through to October 15 for presentation of a definitive offer for Alitalia from the state railway,” a ministry statement said.
Ferrovie dello stato (FS), the state railway, had been due to make its concrete binding bid by September 15 having already been given an extra two months after a previous extension to June 15 under the previous government.
The latest extension is designed to allow buyers “to define in detail the relaunch plan for the airline,” the ministry statement said.
FS made an initial offer for the carrier last October in a partnership with the Italian treasury and US airline Delta.
FS then said a fourth partner was needed and identified Atlantia group — a major operator of toll expressways and airports owned by the Benetton group — as its choice.
Since then there have been multiple delays as those concerned look to thrash out a deal.
FS had indicated it does not want to hold more than 30 per cent in the airline while Atlanta-based Delta is reportedly interested in a 15 per cent stake while the Italian treasury would take another 15 per cent, according to Italian media reports.
Atlantia operates Rome's airports and had already twice taken stakes in Alitalia, which has been labouring under excessive debts.
But the anti-establishment Five Star Movement (M5S), partner in a new ruling coalition, has criticised Atlantia, whose subsidiary Autostrade was in charge of maintaining a large suspension bridge that collapsed in Genoa last year.
The disaster killed more than 40 people.
The latest takeover delay was largely expected after Prime Minister Giuseppe Conte formed a new administration won a confidence vote earlier this month after the anti-immigration League party withdrew from a coalition with the M5S. — AFP
