Italian government authorized Finance Minister Giulio Tremonti to organize the sale of its 49.9% stake in Alitalia, with Intesa Sanpaolo serving as adviser. Tremonti told reporters that there will be no auction and the government will disclose no information about the process until it receives an offer, saying, "The situation is so serious and urgent that the usual privatization procedures which failed in the past have to be ruled out," according to Reuters. The government was scheduled to ...

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