By Stefano Bernabei
MILAN, Sept 23 (Reuters) – Atlantia ATL.MI made clear to the Italian government in July that any deal over the ownership of its motorway assets would need to meet market conditions and protect the rights of minority shareholders, a document seen by Reuters showed.
Atlantia, controlled by the Benetton family, has been locked in a legal battle with the state over its motorway concession since the deadly collapse of a bridge operated by its Autostrade per l’Italia toll-road unit in 2018. The government has been threatening to strip Autostrade of its concession.
The dispute appeared to have been resolved on July 14 when the government approved a plan that would see Atlantia pull out of the Autostrade business to make room for state lender CDP.
But that agreement risks unravelling because of disputes over its impact on minority shareholders in both Atlantia and Autostrade, and