Alitalia bail-out will take place 'without Italian state funds'

0 Comments | AFP, August, 2008

ROME (AFP) — Italy sees no obstacle in getting European Union permission to save national air carrier Alitalia, because this bail-out will not draw on state funds, a minister told a newspaper published Sunday.

"I think it will be possible to obtain the green light from Brussels because this rescue will be done without the help of the state, be it for the former or the new Alitalia," Economic Development Minister Claudio Scajola said in an interview published in the daily Il Messaggero.

"It will be entirely a market operation because a private group is acquiring the shares Alitalia has declared insolvent," said Scajola.

The minister said the shares will be sold at market prices, with other potential buyers free to take part as well.

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