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. Last Updated: 07/27/2016

Aeroflot Seeks $1.4Bln for Alitalia Bid

Aeroflot is prepared to borrow up to 1 billion euros ($1.4 billion) to finance a possible bid for Italian airline Alitalia, the company's financial director said Monday.

Mikhail Poluboyarinov said Aeroflot would decide within the next one to two weeks on whether to accept a renewed invitation to bid for a stake in Alitalia.

"We are not in negotiations with anyone. They invited us to listen to a presentation," Poluboyarinov said.

Alitalia this month short-listed six potential bidders in a second attempt to sell the Italian government's 49.9 percent stake. Aeroflot pulled out of the first auction organized by the government, having expressed concern over the asking price and Alitalia's finances.

Aeroflot also said Monday that first-half profit climbed 19 percent as revenue increased. Net income under international accounting standards climbed to $160.8 million, the carrier said. Sales advanced 28 percent from a year earlier to $1.68 billion.

(Reuters, Bloomberg)