Atlantia to discuss Alitalia offer at board meeting Thursday

The Benetton family’s Atlantia SpA will discuss an investment of about E300m to buy a minority stake in troubled Italian airline Alitalia at a board meeting Thursday, according to a person familiar with the situation. The infrastructure company could acquire a stake of about 30% in a new holding company that would oversee the carrier’s turnaround, said the person, who asked not to be identified discussing private negotiations. Atlantia’s investment hinges on the participation of the Italian Treasury and Delta Air Lines, as well as a detailed business plan, the person said. A spokesman for Atlantia declined to comment. Financial daily Il Sole 24 Ore reported on Wednesday that Atlantia may seek a stake between 30% and 40% for an investment of at least E300m. The Italian government reiterated last week that binding bids for the bankrupt airline must be made by July 15. It said the bidding groups as currently configured include a possible stake of about 35% for state rail operator Ferrovie dello Stato, Delta at 10%-15% and the Treasury at about 15%.<br/>