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Air France Buys Alitalia in Cut-Rate Deal

Struggling Italian carrier sells for 81% below market value

By Sam Biddle,  Newser Staff

Posted Mar 17, 2008 3:07 AM CDT

(Newser) – Embattled Italian airline Alitalia has accepted a severely discounted buyout from Air France, the BBC reports. The $1.17-billion deal, which includes both the airline and its debt, sees Air France take over the Italian carrier at 81% below company's current share price. Alitalia has...   Read full story »

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