Air France-KLM confirms Alitalia bid details

Air France-KLM said it had made a non-binding offer to acquire 100 per cent of the shares of Alitalia through an exchange offer and that it would acquire 100 per cent of Alitalia convertible bonds.

Air France-KLM on Monday detailed its offer to buy all of Alitalia, confirming details given on Sunday by its chairman to Italian newspapers.

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Air France-KLM said it had made a non-binding offer to acquire 100 per cent of the shares of Alitalia through an exchange offer and that it would acquire 100 per cent of Alitalia convertible bonds.

The French-Dutch airline would immediately inject at least 750 million euros ($1.09 billion) into Alitalia through a capital increase, which will be open to all shareholders and be fully underwritten by Air France-KLM.