könnte noch turbulent werden in den nächsten wochen...09.12.2007 20:04
Alitalia chairman says Air France business plan clearer than AP Holdings
MILAN (Thomson Financial) - Air France-KLMs business plan to take control of Alitalia SpA (Nachrichten) is clearer than that of its rival AP Holding SpA, Alitalia chairman Maurizio Prato said in an interview with Saturday's Corriere della Sera.
Prato said that Air France's plan is based on Alitalia's own business plan, with a few additional unknowns.
'For Air One (he airline owned by AP Holding), aside from some generic statements about remaining at both hubs, increasing the fleet and renewing it, we still need to understand how the plan actually functions,' Prato said.
Last week Alitalia said it had received three non-binding offers to acquire the state's controlling 49.9 pct in the airline and will probably choose the candidate with which to conduct exclusive talks next week.
Besides AP Holding and Air France-KLM, (Nachrichten) Alitalia said it will also consider the offer made by the consortium organized by Rome lawyer Antonio Baldassarre.
Alitalia had previously said that the Baldassarre consortium did not meet the required conditions of the bid.
Prato confirmed Alitalia will evaluate the Baldassarre bid.
'You never know, it might be the deal of the century,' he said.
Asked whether the eventual buyer will bid for the stake or underwrite a capital increase, Prato said 'the indications given are for a bid.'
Prato indicated the bid price could be below Alitalia's current market price.
'To think it can be in line with the market... well, let's hope, but objectively speaking...,' he said, adding however that the Treasury can fix a price range for the offers.
Prato said the Alitalia board needed only a week to assess the three offers.
Prato said one of the most troublesome issues to be resolved will be the fate of Alitalia's 49 pct affiliate AZ Servizi.
In an unsourced report, Saturday's edition of Finanza&Mercati said the winner of the bid for control of Alitalia will not have to launch a compulsory bid on the rest of the airline's shares.
Under Italian law anyone who buys over 30 pct in a listed company must launch a bid on the outstanding shares.
F&M, however, said that the Italian takeover law waives the necessity of a compulsory bid if it takes the form of 'a capital increase which is part of a plan to salvage and restruture a company in crisis'.
stephen.jewkes@thomson.com