Atlantia Shares Soar on Proposals to End Motorway Dispute
15 Julho 2020 - 7:38AM
Dow Jones News
By Giulia Petroni
Atlantia SpA's shares jumped on Wednesday after its motorway
unit Autostrade per l'Italia SpA made the Italian government two
new proposals in order to end their years-long dispute.
At 0945 GMT, shares trade 23% higher at EUR14.03.
The offer would see state lender Cassa Depositi e Prestiti SpA
take a majority stake in Autostrade, with the company eventually
being spun off from Atlantia and listed.
"The entry of CDP into ASPI is certainly positive for the bond
holders; from the equity point of view, it will be necessary to
define how dilutive the capital increase reserved for CDP will be,"
Equita Sim's Stefano Gamberini said.
The Italian government has decided to start the negotiation and
postpone its decision over the company's toll road licence.
The government has been threatening to revoke Autostrade's
motorway contract after a bridge run by the operator in Genoa
collapsed and killed 43 people in 2018.
Write to Giulia Petroni at giulia.petroni@wsj.com
(END) Dow Jones Newswires
July 15, 2020 06:23 ET (10:23 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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