Italy to restart Alitalia sale process

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Italy’s cabinet will discuss on Friday a new decree on the sale procedure for ailing carrier Alitalia, a government source said.

The new law is expected to make it easier to sell the state’s 49.9% stake in the airline. The Italian press reported on Friday Economy Minister Giulio Tremonti would update his colleagues on Alitalia, before giving a mandate as adviser to Italian bank Intesa SanPaolo.

Today is the deadline for the Berlusconi government to present details of a €300 million ($465 million) emergency loan to the carrier to the European Commission, which is reviewing whether the funds constitute illegal state aid. Berlusconi had requested that the former government of Prime Minister Romano Prodi approve the loan to give him time to find a buyer after forming his new government, which was sworn in on May 8. (Reuters, Bg)

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