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Aeroflot-UBM Consortium withdraws from Alitalia privatization

The Consortium composed by OJSC Aeroflot Russian Airlines and UniCredit Banca Mobiliare S.p.A. informs that following a thorough and detailed due diligence and a review of the terms and conditions of the proposed privatization of Alitalia has taken the decision to withdraw from the privatization procedure. The Italian Treasury has been duly informed accordingly.

Milan, June 27, 2007

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