August 30, 2019 / 1:39 PM / 3 months ago

Atlantia shares drop after 5-Star reaffirms plan to revoke motorway concession

FILE PHOTO: A logo of the Atlantia Group is seen outside their headquarters in Rome, Italy August 31, 2018. REUTERS/Alessandro Bianchi

MILAN (Reuters) - Shares in infrastructure group Atlantia (ATL.MI) extended losses to fall 3% after the leader of Italy’s 5-Star Movement reaffirmed his intention to revoke the company’s motorway concession.

5-Star blames Atlantia’s unit Autostrade per l’Italia, which runs more than 3,000 kms of roads in the country, for the collapse of a motorway bridge in Genoa that killed 43 people a year ago.

“We must do justice for the 43 victims and their families... we had a decree ready to revoke the concession and this should be done as soon as possible,” 5-Star leader Luigi Di Maio said, referring to what should be the policy priorities of a new government his party is trying to form with the center-left Democratic Party.

Reporting by Francesca Landini, editing by Silvia Aloisi

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