Alitalia To Go To the Highest Bidder

Italy's Treasury on Tuesday said it plans to sell at least 30.1 percent of Alitalia shares to the highest bidder. According to Italian government rules, buying a 30.1 percent in a company forces a mandatory bid for the remaining shares of cash or other securities, meaning whoever buys the stake of the long troubled carrier must also make a cash bid for the rest of the airline, Reuters reports. Alitalia, valued at $1.77 billion, blames labor unrest, the high price of fuel and competition from low-cost carriers for its expected $266.4 million year-end loss.

Suggested Articles

Protesters formed a human chain and blocked tourists from using a Kauai highway to access an area they said cannot support a large influx of people. More here.

Small Luxury Hotels' latest hotel members include an art-centric hotel in Vienna, a 15th-century villa in the Tuscan countryside and a hotel in the heart…

Researchers who work for the Centers for Disease Control and Prevention (CDC) have issued a reminder that travelers headed to Europe should make sure their…