Mobissimo

Well, this one surprises no one, but one would have hoped that the Italians could keep their national airline afloat, but much like Sabena and the Netherlands, Italy takes one on the chin.  This one pretty brutal, the offering price is a mere dime.  More here via the Telegraph.

The sale marks the end of a tortuous process for the carrier that began at the end of 2006 when Romano Prodi, the former Italian prime minister, put it up for sale - declaring it was "out of control". Suitors including Aeroflot and Texas Pacific ran the rule over Alitalia but decided against bidding.

When Air France first announced "exploratory talks" 15 months ago, Alitalia was worth 95.4 cents a share. Yesterday's deal, struck after an 11-hour board meeting, saw the shares valued at just 10 cents against its closing price last Friday of 53 cents.