Air France-KLM Said to Call Board Meeting on Alitalia Takeover

Air France-KLM Group’s board will meet Sept. 23 to decide whether to bid for control of Alitalia SpA as a lock-up period requiring transactions to be approved by the Italian company ends, a person familiar with the plan said.

Air France already owns 25 percent of Alitalia bought for 323 million euros ($438 million) in 2009 and has resolved to decide whether to boost the holding by the year’s end. The Italian company’s board, which loses its veto over investments on Oct. 28, will meet Sept. 26 to study plans to raise cash that might entail a capital increase involving Air France, a second person said. Both asked not to be named since talks are private.