Takeover talks between Emirati conduit Etihad Airways and debt-laden Italian airline Alitalia are still during an early stage, Etihad’s arch James Hogan pronounced on Monday.
“It’s early days. We are operative by a process,” Hogan told a news discussion hosted by Etihad’s German partner Air Berlin.
It was “very premature” to plead a distance of any shareholding to be bought by Etihad, he continued, adding that he had “no devise to make any proclamation during a finish of this month.”
Last month, Etihad reliable to AFP that it was in talks with Alitalia.
Reports have suggested that a Abu Dhabi-based conduit is scheming a large investment in Alitalia, that is in debt to a balance of 1.2 billion euros ($1.6 billion).
In October, shareholders gave unanimous capitulation for a collateral boost of adult to 300 million euros to save Alitalia from bankruptcy
The conduit has been looking for a unfamiliar partner to rescue it.
Etihad is expanding fast and has bought teenager shares in several smaller carriers around a universe as it competes with incomparable Gulf rivals Emirates and Qatar Airways.
Etihad owns 29 percent of Air Berlin, 40 percent of Air Seychelles, 19.9 percent of Virgin Australia and 3 percent of Aer Lingus.
In November, India’s Jet Airways pronounced it had finished a sale of a 24-percent interest to Etihad after receiving regulatory approvals.
Etihad also announced in mid-November that it was appropriation 33.3 percent of Swiss conduit Darwin Airline, that it skeleton to rebrand as Etihad Regional.
The merger is available regulatory approval.
Etihad is also due to acquire 49 percent of Air Serbia in January.
from Around The World http://aroundthe-world.info/etihad-in-early-stages-of-alitalia-takeover-talks/
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