🔮 Better than the Oracle? Our Fair Value found this +42% bagger 5 months before Buffett bought itRead More

ITA Airways to open data room for privatisation next week - sources

Published 04/21/2022, 12:42 PM
Updated 04/21/2022, 12:45 PM
© Reuters. FILE PHOTO: The logo of the new state-owned Italian carrier Italia Trasporto Aereo is seen on a plane with the new blue livery at Fiumicino airport before a news conference to present the aircraft's new fleet, in Rome, Italy, March 1, 2022. REUTERS/Remo C
JPM
-
MDIBY
-

MILAN (Reuters) - State-owned ITA Airways will make its financial data available for suitors from next week, two sources familiar with the matter said on Thursday, as the Italian government tries to speed up the privatisation of the successor to Alitalia.

The sources told Reuters that all three consortia that expressed interest in buying a majority stake in the airline will be admitted to ITA's data room despite a request from one of the suitors, shipping group MSC, for exclusive talks.

MSC teamed up with Germany's Lufthansa and presented a bid in January, indicating it was ready to offer more than 1 billion euros ($1.1 billion) for the carrier.

U.S. fund Certares and Wizz Air investor Indigo Partners have also expressed their interest in the airline in recent days, sources have said.

ITA started flying in place of Alitalia in October, permanently grounding the 75-year-old, one-time symbol of Italian style and glamour after years of financial losses and failed rescue attempts.

Last month the Treasury picked Equita and Gianni & Origoni as financial and legal advisers for the privatisation of ITA Airways, which is fully owned by the government.

© Reuters. FILE PHOTO: The logo of the new state-owned Italian carrier Italia Trasporto Aereo is seen on a plane with the new blue livery at Fiumicino airport before a news conference to present the aircraft's new fleet, in Rome, Italy, March 1, 2022. REUTERS/Remo Casilli

The carrier has lined up JPMorgan (NYSE:JPM) and Mediobanca (OTC:MDIBY) to help on the search for private investors.

($1 = 0.9217 euros)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.