A deal between struggling Italian
carrier Alitalia and Abu Dhabi-based Etihad Airways appears
closer as due diligence is almost complete, the company said
Thursday.
"Due diligence is all but finished as of today," CEO
Gabriele Del Torchio said.
"The next step is to meet and enter the negotiating phase".
In early February, Etihad and Alitalia issued a joint
statement saying they were in the "final phase" of negotiations
for a deal that would see the Abu Dhabi carrier buy as much as a
40% stake in its Italian counterpart, the equivalent of a
much-needed capital injection of 350 million euros.
The Gulf carrier is vying to broaden its network in Europe.
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