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Italy says Alitalia faces liquidation if not sold

20 July 2007

Italian national carrier Alitalia will be shut down unless it finds a buyer, the government said, in an apparent warning to unions that played a central role in deterring suitors.

Italy scrapped its seven-month auction of the loss-making airline on Wednesday after the last bidders pulled out, and now faces dwindling options and growing political embarrassment over the sale’s failure.

source: Reuters

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