Air One’s Alitalia bid vehicle worth 1bn euros

Italian carrier Air One’s bidding vehicle for airline Alitalia could be worth between 850 million and 1 billion euros, according to an accounting firm, newspaper Il Sole 24 Ore reported. The Italian paper said AP Holding was seeking a valuation to allow banks Morgan Stanley , Lehman Brothers , Japan’s Nomura Holdings Inc and Italy’s Banca Monte Paschi di Siena to support its bid for the troubled Italian carrier.

Citing sources close to AP Holding, the newspaper said PricewaterhouseCoopers was understood to have suggested the group could be valued in a range of 850 million euros and 1 billion euros.