Italy's economy ministry said it has allowed the three candidates for the acquisition of a controlling stake in airline Alitalia to make binding offers by the end of June.
The bidders are a consortium comprising Texas Pacific, Matlin Patterson and Mediobanca; a grouping including Unicredito Italiano and the Russian airline Aeroflot; and Italy's AP Holding, which owns the Air One airline.
The bidders are seeking to buy a stake of at least 39.9% in Alitalia from the government, as well as the latter's convertible bonds in the airline.
They will be allowed to obtain more information on the airline thanks to access to a data room from May 24, the ministry said.
Separately, the bidding companies are expected to offer less than 40 cents per share, the daily MF said without giving a source.
According to MF, Texas Pacific, Matlin Patterson and Mediobanca value Alitalia's shares close to zero, while AP Holding has an appraisal of 10 cents per share and Aeroflot and Unicredito value the shares less than 40 cents each.