Without Merger, Alitalia Bankruptcy Looms: Official

Law360, New York (March 5, 2008, 12:00 AM EST) -- If Italy's new prime minister chooses to block Air France-KLM's bid to buy out Alitalia, the troubled national airline will spiral into bankruptcy, the departing Italian foreign minister said.

Air France is currently awaiting the outcome of elections in Italy before seeking the government's approval of its proposed takeover. The potential sale has drawn criticism from some who argue that Alitalia, viewed as a national gem, should remain in Italian hands.

“Minister D'Alema said that if alternatives are not presented, stopping the acquisition from Air France...
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