Italy to Enter Exclusive Talks With Delta, Air France-KLM to Privatize ITA Airways
August 31 2022 - 5:55AM
Dow Jones News
By Mauro Orru
The Italian government said it would hold exclusive negotiations
with Delta Air Lines Inc. and Air France-KLM to privatize ITA
Airways.
Italy's finance ministry said Wednesday that a bid from the
consortium that also includes investment firm Certares Management
LLC was deemed the most suitable as the government seeks to hand
over control of ITA Airways, Italy's reincarnated flag carrier that
succeeded loss-making Alitalia.
"At the end of exclusive negotiations, binding agreements will
be signed only if the outcome [is] fully satisfactory for public
shareholders," the ministry said in a statement.
Earlier this year, ITA Airways received an expression of
interest from MSC Mediterranean Shipping Co. and Germany's Deutsche
Lufthansa AG. The two companies had hoped the Italian government
would retain a minority stake in ITA Airways.
Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94
(END) Dow Jones Newswires
August 31, 2022 05:40 ET (09:40 GMT)
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