March 26, 2008 / 10:29 PM / in 11 years

Geox to replace Alitalia in S&P/MIB share index

MILAN, March 26 (Reuters) - Italian shoemaker Geox (GEO.MI) will replace flagship air carrier Alitalia AZPIa.MI in Milan’s leading share index .SPMIB starting from March 28 after the close of trade, Standard & Poor’s said in a note on Wednesday.

“The S&P/MIB index committee has made the decision to replace Alitalia following its recent extreme price volatility and sharp decline in the adjusted market capitalisation,” the ratings agency said.

In recent weeks shares in the battered airline — in talks to be bought by Air France-KLM (AIRF.PA) — have often been suspended from trading on the Milan Bourse due to excessive losses or gains.

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