Enticement of a Neutral Italy?

Hey Guys,

Let's say that Mussolini is assassinated in 1938, whoever takes over generally continues his policies though doesn't feel the need to invade Albania and, instead continues the Italian penetration of the Albanian economy.

Not only does this new Duce not invade Albania, but he also chooses against joining the war between Germany and the Allies. Now he may supply the Germans, however he's neutral and so will serve the Allies too.

Now let's say the war generally goes the same way it did IOTL with France falling rapidly etc. With Italy bordering both Vichy France and Nazi Germany the Allies would likely be agitated into getting Italy involved in the war, so how would they go about it? I'm guessing that it would have to be territorial offers, but what could they offer? Vlore and a protectorate over Albania? Northern Dalmatia in Yugoslavia? etc?
 
Albania and Yugoslavia really aren't something either belligerent can offer. If this Italy really wanted or felt it needed to grab Albania, neither Germany nor Britain are going to stop her in a 1940 similar to OTL.

If Italy doesn't simply jump on the Axis bandwagon amid the battle of France, then it's hard to see it bothering to waste men and money until it's clear one side is actually going to win. From the Italian perspective, they were promised a lot in the last war, and that didn't amount to much. Why repeat the same mistake?
 
The most likely thing ether side would offer would be colonies in Africa. Although thats more likely for Germany to do rather than Britain in my opinion.
 
At least Tunisia, Malta, and some Egyptian/Sudanese land. Possibly Djibouti and British Somalia as well, depending on how desperate the Allies are and/or good the Italian diplomats are.
 
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