August 22, 2018 / 1:30 PM / a month ago

Atlantia looking into impact of government move to revoke concessions

MILAN (Reuters) - Italy’s Atlantia (ATL.MI) said it had started looking at the impact on its shares and bonds of government plans to strip it of its motorway concessions after the Genoa bridge collapse.

FILE PHOTO: The collapsed Morandi Bridge is seen in the Italian port city of Genoa, Italy August 15, 2018. REUTERS/Stefano Rellandini

In a statement on Wednesday the group said it had also begun to assess the effects of comments and news published about it since the disaster with a view to protecting its investors.

More than 40 people were killed when a bridge on the A10 motorway, operated by Atlantia unit Autostrade per l’Italia, collapsed last week.

The Italian government has blamed Autostrade for serious oversights and launched a formal procedure to revoke the toll road operator’s concessions.

“Atlantia Group companies will continue to do their utmost and actively collaborate with all the authorities to get over this emergency,” the company said.

Reporting by Stephen Jewkes

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