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France's Credit Mutuel buys Deutsche Citibank ... to a rescue plan for the Italian airline after nearly 15 hours of non-stop negotiations. The pilots have agreed to a takeover by a consortium of private investors after reaching a compromise on job cuts and contracts for captains.
The plan by the private investor group, Italian Air Co., calls for at least 3,000 jobs to be cut. The agreement with pilots now means that only Alitalia's flight attendants union needs to approve the deal to keep Italy's flagship carrier in business.
(Deutsche Welle)
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