Italy govt approves Alitalia-Air France-KLM deal
ROME, March 17
ROME, March 17 (Reuters) - Italy's government has approved Alitalia's AZPIa.MI deal to be acquired by larger rival Air France-KLM (AIRF.PA) in a bid to avert bankruptcy, a statement from the Italian cabinet said on Monday.
Air France-KLM offered one share for every 160 shares of Alitalia, valuing its stock at 0.10 euro a share, or 138 million euros ($183.8 million) in all -- an 81 percent discount to the record low price at Friday's close.
Air France-KLM has said it wants the approval of Italy's next government to be elected in April and Alitalia's strike-prone unions before concluding the deal.
(Reporting by Deepa Babington)
- IBM launches Watson system for research, hopes for breakthroughs
- Comedian Joan Rivers 'resting comfortably' at hospital |
- Separatists say will allow 'trapped' Ukrainian forces to withdraw |
- In town halls, U.S. lawmakers hear voter anger over illegal migrants |
- U.N. says 43 Golan peacekeepers seized by Syria militants, 81 trapped