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Atlantia-Abertis: Spain's Caixa tips the balance

The Cassa di Risparmio di Barcellona will play a decisive role in the success or failure of Atlantia's takeover bid on Abertis, of which it is the largest shareholder with 18,9% of the capital. – Atlantia still on the rise in Piazza Affari

Atlantia's takeover bid on the Spanish Abertis continues to attract the maximum attention of the markets. Not surprisingly, in Piazza Affari, after yesterday's exploit, when the stock of the giant of the Benetton family that controls Autostrade per l'Italia gained 2,48%, dragging the entire price list upwards, today it seems to want to replicate the performance, rising by 16.10% at 1,61

But today everyone's eyes are focused on Spain and in particular on the top management of Abertis, from whom a reaction is expected to the public purchase and/or exchange offer launched yesterday by Atlantia.

Giovanni Castellucci, CEO of the Italian holding, expressed his opinion on the issue today, answering reporters' questions about the existence of an agreement with Criteria Caixa, the main shareholder of the Spanish Abertis, specifying that "if there had been a written agreement, we would have had to communicate because this requires the law".

La Caixa could become the tip of the balance capable of affecting, by itself, the success of the takeover bid. The Cassa di Risparmio di Barcellona now controls 100% of CriteriaCaixa, the holding company which in turn manages a portfolio of investments which includes, in addition to energy giants and banks, also 18,9% of Abertis. Driving the entire machine is Isidre Fainé, who on 20 April, commenting on the rumors relating to Atlantia's possible aims on the Catalan motorway group, admitted that the integration already had a raison d'être at the beginning of 2016, when Abertis had evaluated a merger of Autostrade: "Ten years ago we tried to figure it out to resolve the situation, now who knows". The prospects could therefore be encouraging, but confirmations from Barcelona are awaited before claiming victory.

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