TPG, the US private equity firm formerly known as Texas Pacific Group, dropped out of the bidding for Alitalia, Italian Prime Minister Romano Prodi confirmed yesterday, according to widespread press reports from Rome. TPG apparently will concentrate on its pursuit of Iberia (ATWOnline, May 23), leaving consortia headed by Aeroflot and Air One to compete for the government's 49.9% stake in AZ (ATWOnline, May 15). It is selling at least 39.9% of the airline. TPG reportedly issued a statement ...

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