The Italian Government prepares for the cancellation of the concessions of Atlantia

The Italian Government has begun procedures to suspend the concessions it has in the country Autostrade per l'italia, a subsidiary of Atlantia, controlled by t

The Italian Government prepares for the cancellation of the concessions of Atlantia

The Italian Government has begun procedures to suspend the concessions it has in the country Autostrade per l'italia, a subsidiary of Atlantia, controlled by the family Benetton, he has argued for the Movement 5 Stars (M5S), which directs the State, along with other left-wing parties. Atlantia is the majority shareholder of Abertis, after making a takeover bid for the company of highways along with ACS, and is also the partner of reference (29.9 per cent) of Cellnex, the signing of the telecommunications infrastructure.

MORE INFORMATION

ACS and Atlantia completed the purchase of Abertis after creating a new firm The shares of Atlantia plunge in Stock market after the tragedy in Genoa

“we're beginning a journey to some of the infrastructure that will allow us to revoke the concessions to the Benetton”, said the leader of the M5S and the Foreign minister of the Italian, Luigi Di Maio, in a recording published on social networks.

The formation of Di Maio accuses Autostrade be responsible for the collapse of a bridge in Genoa in August of 2018, an event that caused 43 dead, and therefore calls since then to cancel their leases in the vast network it manages and accounts for over half of the motorways of the country.

To prevent the State from having to pay a financial penalty for withdrawing these tenders before time, the Italian Government has just approved a decree-which still must get the green light in the Parliament - in which will reduce the compensation in case of termination of contract.

Drop in Bag

“Those who are scandalized by the fall in Stock exchange title of Atlantia did not do so when it collapsed the bridge of Morandi,” said Di Maio. The minister ruled out that the cancellation of the concessions will cause layoffs and said that it will reduce the benefits of the family Benetton, something that will be correct because you “did not do what's necessary to keep on foot” the viaduct.

The M5S accuses Autostrade not to perform the relevant controls to ensure the proper functioning of the bridge and want to since then to punish the company, especially after the Prosecutor's office of Genoa, which is investigating what happened, has found evidence of fraud documentary reports about the poor state of other bridges in the country.

this information led to the resignation in September of former ceo of Atlantia -and Autostrade at the time of loss - Giovanni Castellucci, who was one of the strong men of the takeover bid of the Italian Abertis, which ended in 2018 with an agreement with ACS.

The M5S is going on his speech against the Italian company in the last few weeks, among other factors, because on the 26th of January will be held the regional elections in Emilia-Romagna (center), which will be used to verify the trust of the voters in the current Government and to measure the forces that keeps the leader of the League, Matteo Salvini.

Updated Date: 02 January 2020, 23:00

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