Italy/UAE: Etihad purchase to aid Alitalia

United Arab Emirates-based airline Etihad and Italy-based Alitalia have confirmed a deal that sees Etihad acquiring a 49 percent stake in the Italian firm, a move intended to aid the struggling European airline.

According to reports, the companies announced intentions to finalize the deal in the coming days, though they will need to secure approval by the necessary competition authorities for the merger.

Financial details of the transaction were not reported.

Full content: ASNA Med

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