Paris - French carrier Air France-KLM on Wednesday said it would use an authorized "mechanism" to protect itself against hostile takeover bids.
"The Air France-KLM holding company reminds investors that, like other major European companies, it is authorized to implement a mechanism to safeguard national ownership once the non-resident shareholding has reached 45 per cent," the carrier said in a press statement released in Paris and Amstelveen.
Europe's largest airline was responding to the recent mass purchase of its stocks by unknown investors that doubled its share price to nearly 32 euros (41 dollars) and increased foreign shareholding in the firm to 47 per cent.
Most carriers are protected against hostile takeovers by laws that declare them to be of national interest.