Italian government has reduced the list of 11 potential bidders for Alitalia to five, according to press reports. Those five each must submit nonbinding offers in early April, Reuters reported. They are Air One Chairman Carlo Toto's AP Holding, Carlo De Benedetti's private equity fund Management & Capitali, MatlinPatterson Global Advisers, Texas Pacific Group and UniCredit. The government is selling a 30.1% stake in the carrier, a holding that requires the owner to bid for the entire ...

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