At the end of last week, the Italian Government accepted the extension of the deadline until which Ferrovie dello Stato (FS), the Italian railway company, should submit a bid to take over Alitalia until July 15.
At the end of October, FS submitted a bid to takeover Alitalia which did not stipulate that it exceeded 50% of the social capital.
Ferrovie dello Stato is discussing with Delta Airlines which might take over 15% of the capital. Other 15% could be taken over by the Italian Treasury which would account for a public participation of 45%. In this case, one or more partners should be identified for the remainder 40%. In May 2017, Alitalia opened the insolvency proceedings for the second time in the past decade, after the employees rejected layoffs and other concessions related to a restructuring plan worth EUR 2 billion for saving the Italian air operator.
Share on:
