MILAN, July 23 The banks will not cover any
shortfall in an expected capital increase at troubled Italian
flagship carrier Alitalia, should the Italian post office decide
not to subscribe the cash call, a top executive of Intesa
Sanpaolo said on Wednesday.
"It is absolutely out of the question," Intesa Sanpaolo
management board chairman Gian Maria Gros-Pietro said on the
sidelines of a conference.
Italy's biggest retail bank is a shareholder of Alitalia.
Poste Italiane, the state-owned Italian postal services
company, is Alitalia's second-biggest shareholder with nearly 20
On Tuesday sources said Poste Italiane would only invest
more money in Alitalia if it avoided taking on the airline's
Abu Dhabi's state-owned Etihad plans to buy 49 percent of
the loss-making airline in a deal the Italian government hopes
will make Alitalia profitable again.
As part of that deal, all Alitalia shareholders are being
asked to participate pro rata in a 200 million euro share issue
to cover any losses Alitalia is likely to make before the deal
(Reporting by Sara Rossi, writing by Stephen Jewkes, editing by