Economy

Italy set to lose flagship airline and telecom company

The embattled Italian flagship company Alitalia is negotiating the cession of a control share to the French-Dutch group Air France-KLM. Nothing was decided yet, also because Alitalia is deep in debt and not so attractive for investors. However, it looks like years of obscure moves by successive Italian Governments to keep the airline in Italian hands are coming to an end.

This is certainly true for Italian Telecom, the telephone company which was once a State monopolist and now just passed to the Spanish group Telefonica.

The unofficial dam built in Italy to protect the national property of “strategic industries” is crumbling. This could be good news, if it made the Italian market more open and competitive. But many fear that it could just turn Italy into an economic colony.

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