Texas Pacific to bid for Alitalia - report |
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Published
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Wed, 10 Jan 2007 08:16
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LONDON - Texas Pacific could become a potential rival to Air France-KLM in the bidding for Alitalia as the Italian Government seeks proposals for the ailing carrier by the end of the month, according to a report in The Times.The paper says that while analysts consider a bid from Air France-KLM, which owns 2 pct of Alitalia, to be the most likely option for the Italian carrier, Texas Pacific Group, the American private equity firm, has also emerged as a potential bidder.However The Times' report says Texas Pacific has concerns about the value and structure of any deal. The buyout firm is concerned about the 2 bln eur valuation of the group, which it believes is too high given that Alitalia is not profitable.The airline has lost 1.5 bln eur in the past three years.rhys.jones@afxnews.comrj/rarCOPYRIGHTCopyright AFX News Limited 2006. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
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