The bottom line
Beleaguered Italian airline Alitalia accepted a discounted $1.17 billion takeover from French-Dutch carrier Air France-KLM . . .
Beleaguered Italian airline Alitalia accepted a $1.17 billion takeover from French-Dutch carrier Air France-KLM. The 15-cent-a-share deal is an 80 percent discount on Alitalia’s closing price Friday. “Alitalia has given a painful yes to the French,” said the Italian business daily Il Sole-24 Ore in an editorial. The deal requires approval from the Italian government, which owns 49.9 percent of the airline. (The New York Times, free registration)
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