December 7, 2013 / 6:53 PM / 5 years ago

Italian businessman says will invest 15 million euros in Alitalia cash call

MILAN (Reuters) - Italian businessman Antonio Percassi said on Saturday he will subscribe to troubled airline Alitalia’s capital increase for 15 million euros ($21 million) through his Odissea holding company.

An Alitalia plane is pictured before takeoff at the Fiumicino airport in Rome October 12, 2013. REUTERS/Stefano Rellandini

In a statement Percassi, whose businesses include managing retail brands in Italy and developing commercial property, gave no more details on the move. He is also chairman of Italian soccer club Atalanta.

Loss-making Alitalia has yet to raise all of the 300 million euros it is seeking in an emergency cash call, piling more pressure on the company to find a strategic investor to keep it flying.

The deadline to buy unsubscribed rights in the capital increase is December 10. Alitalia has so far raised 173 million euros in the cash call and will rely on the state postal service and other investors to cover the difference.

Reporting by Danilo Masoni; editing by Agnieszka Flak

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