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Italy asked bidders to provide better proposals for Ita Airways

08/04/2022 | 03:05pm EDT
 FILE PHOTO: ITA Airways presents new fleet of aircraft at Fiumicino airport

ROME (Reuters) - Italy has asked bidders willing to take over Ita Airways to formulate better proposals, the economy minister said on Thursday, because the government does not deem the current bids to be sufficient.

Economy Minister Daniele Franco told a news conference neither of the two rival bids currently fully met the government's goals for the privatisation of the company.

Shipping group MSC and Germany's Lufthansa are facing a rival bid made by a consortium comprising U.S. private equity fund Certares, Air France-KLM and Delta Air Lines Inc.

Prime Minister Mario Draghi, who resigned last month and will remain in a caretaker position until a new government is formed after next month's election, told reporters he wants his administration to complete the sale procedure.

(Reporting by Angelo Amante and Giuseppe Fonte; Editing by Keith Weir)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
AIR FRANCE-KLM -1.35% 1.2825 Real-time Quote.-33.41%
DELTA AIR LINES, INC. -0.75% 30.52 Delayed Quote.-21.32%
DEUTSCHE LUFTHANSA AG 0.37% 6 Delayed Quote.-3.27%