July 1, 2019 / 7:53 AM / 3 months ago

Atlantia says Rome must pay fair compensation if it scraps concession

FILE PHOTO: The collapsed Morandi Bridge is seen in the Italian port city of Genoa, Italy August 14, 2018. REUTERS/Stefano Rellandini/File Photo

MILAN (Reuters) - Italian infrastructure group Atlantia (ATL.MI) said on Monday that any revocation by the government of its motorway concession would require a compensation equal to the value of the contract.

The concession is worth a third of the group’s core profits.

In a statement, Atlantia said it had not received any information on a transport ministry report, excerpts of which were published in Italians news media as evidence that the group had neglected maintenance on its network, including a bridge that collapsed in Genoa last year killing 43 people.

Atlantia, controlled by the Benetton family, said the excerpts had been leaked selectively and did not in fact show that it had failed to properly maintain its network.

Reporting by Francesca Landini; Editing by Mark Bendeich

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