Open

Coming up

Don't miss

Replay


LATEST SHOWS

AFRICA NEWS

Central African Republic : the UN takes over the country's peacekeeping

Read more

MEDIAWATCH

Fighting back against facial recognition

Read more

DEBATE

Fighting ISIS - What coalition against jihadists? (Part two)

Read more

DEBATE

Fighting ISIS - What coalition against jihadists?

Read more

THE INTERVIEW

Reed Hastings, Netflix co-founder and CEO

Read more

ENCORE!

U2's Free Album Annoys Some Fans

Read more

FOCUS

Lebanon: Islamic State organisation advances on refugee camps

Read more

TALKING EUROPE

Kostyantyn Yeliseyev, Ukrainian Ambassador to the EU

Read more

TALKING EUROPE

Italian FM to lead EU diplomacy: Is Mogherini up to the task?

Read more

Italian consortium withdraws Alitalia takeover bid

Latest update : 2008-09-19

The Italian Air Company (CAI), a consortium that proposed to take over Italy's flagship carrier Alitalia, has withdrawn its bid for the stricken airline, thereby pushing the company further down the road to bankruptcy.


An Italian consortium that proposed to take over Alitalia withdrew its offer Thursday for the stricken Italian flag carrier, dooming it to bankruptcy, a news agency reported.
  
The Radiocor agency said the Italian Air Company (CAI) consortium pulled out after labour unions failed to accept the takeover plan which would have meant the loss of 3,250 jobs.
  
The Sky TG 24 news channel also reported that CAI would drop its offer, while the ANSA agency said it was likely, quoting union officials as saying they had been told so unofficially from four sources.
  
A CAI spokesman refused to either confirm or deny the reports.
  
Both the consortium and the government had said there could be no more negotiations, and CAI chief Roberto Colaninno said Wednesday that without a union consensus the offer would be withdrawn.
  
The nine unions were given a deadline of 4 pm (1600 GMT), when the CAI was to meet, to give their response, but only three had accepted in last-ditch talks on Tuesday.
  
The other six, including the pilots' union and Italy's largest employees' organisation, the CGIL, demanded further talks.
  
Transport Minister Altero Matteoli warned earlier Thursday, "There is no alternative -- if we don't sign today, we are facing bankruptcy."
  

Date created : 2008-09-18

COMMENT(S)