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Air France-KLM is prepared to increase its bid for a 25-percent stake in Italian flag carrier Alitalia from 250 million to around 300 million euros (410 million dollars), the newspaper Les Echos reported on Monday.
The newspaper, which did not cite its sources, said the offer was aimed at countering a bid from German competitor Lufthansa.
It said Air France-KLM would agree to raise its offer for the Alitalia stake to “more than 300 million euros.” The struggling Italian carrier was due to announce the name of a partner later this week.
“Air France is continuing to work” on this matter,” a company spokeswoman told AFP.
Italian press reports have said an accord between Air France-KLM and Alitalia was likely, giving the Franco-Dutch company a 25-percent stake, with an official announcement expected around January 10.
But the head of the Italian Air Company (CAI), an alliance of investors that took over Alitalia last month, was also to meet with Lufthansa representatives Monday, according to Italian media.
A revamped Alitalia, which will keep its name, is scheduled to begin operations on January 13.
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