Keith T 2 Report post Posted December 13, 2007 This isn't in the alliance news thread as I wouldn't have a clue which one to fit it in... Alitalia receives offer from Quantum-Evergreen-Singapore Airlines UPDATE Thursday, December 13, 2007; Posted: 06:18 AM MILAN, Dec 13, 2007 Singapore Airlines and investment funds Quantum Funds and Evergreen Fund have made a joint offer for Alitalia SpA, Radiocor news agency reported, citing Luigi Pezzoni, a Milan-based accountant who represents Quantum Funds. The offer is included in a letter delivered to Alitalia's chairman Maurizio Prato this morning, Radiocor said. Alitalia was not immediately available for comment. Economic development minister Pier Luigi Bersani said he is "not aware" of this offer, but added that the government is ready to examine it. The airline said earlier it will further examine partnership offers and that a decision will be made Dec 18 on with whom to enter exclusive talks. The choice of the partner was initially expected today, but newspaper reports said the government is split on whether to recommend selling Alitalia to to AP Holding, which operates the airline Air One, or Air France-KLM. The government has asked the company to suspend its decision, they added. And in another source quoted on SQTalk, the offer has been confirmed - SQ and the funds are making a joint bid for 49.9% of AZ: http://www.sqtalk.com/forums/showpost.php?...mp;postcount=10 Share this post Link to post Share on other sites
Mohd Azizul Ramli 2 Report post Posted December 13, 2007 Really? I thought Air France is almost confirm to get the deal. AF would be a better bet in my opinion. AF, KL and AZ will create a GIANT SkyTeam airlines. My, that surely scared all US majors. If AF gets the deal, AZ's 2 hubs operation will be stopped. Milan Malpensa (MXP) will no longer being a hub. All AZ flights will be centered in FCO. Share this post Link to post Share on other sites
Keith T 2 Report post Posted December 13, 2007 Ok..false alarm. Stephen Forshaw, spindoctor (oops I mean spokesman) for SQ has now denied claims of a bid. SINGAPORE, Dec 13 (Reuters) - Singapore Airlines said on Thursday it has not bid for Alitalia, denying comments by the ailing Italian carrier that it is part of a consortium that has expressed bidding interest. "These reports are incorrect. Singapore Airlines has not submitted a bid for Alitalia, and has no intention of doing so," said Stephen Forshaw, spokesman at Singapore Airlines. "Singapore Airlines is not a party to any consortium seeking to buy Alitalia, nor will we be part of one," he added. (Reporting by Neil Chatterjee; Editing by Quentin Bryar) Share this post Link to post Share on other sites
Mohd Azizul Ramli 2 Report post Posted December 18, 2007 Just a confirmation news on AF's takeover of AZ. It is almost happening and a giant Skyteam airline AF-KL-AZ will be born soon. Air France offers 750mil euros for Alitalia The Star TOULOUSE: Air France-KLM Group said it plans to provide Alitalia SpA with an immediate injection of at last 750 million euros (US$1.08bil) in new funds if it is chosen as the winning bidder for the Italian national carrier. The money would be provided through a capital increase open to all shareholders and fully underwritten by Air France. The Paris-based company aims to buy 100 percent of Alitalia stock through an exchange offer, together with all of its convertible bonds, it said in a statement yesterday. A large part of the investment would be used to revamp Alitalia's in-flight service with improved cabin design, seats and entertainment, and to help restore the Rome-based company's international image as a major airline, Air France said. Fleet renewal would also be a top priority, led by the replacement of the Italian carrier's Boeing Co 767 and MD80 aircraft, the statement said. No job cuts are planned beyond those already planned by Alitalia. – Bloomberg Share this post Link to post Share on other sites
Keith T 2 Report post Posted December 18, 2007 Yep that'd seem more in line with and confirms what's almost always going to be the case. Share this post Link to post Share on other sites
Mushrif A 3 Report post Posted December 19, 2007 Ok..false alarm. Stephen Forshaw, spindoctor (oops I mean spokesman) for SQ has now denied claims of a bid. Exactly. In fact, somebody sent a letter to Alitalia stating that SQ is part of a consortium that was interested in making a bid for AZ. This was really a stock market hoax. When AZ made the disclosure to the market re. SQ's alleged interest & the wire services picked it up, the share price reacted positively. So the hoaxes probably made a handsome bundle, or allowed them to offload AZ shares at possibly lower losses. Share this post Link to post Share on other sites
