Atlantia leads the Ftse Mib. The title of the company, around 10,20, share almost 27 euros (+4,85%) and stands out as the best Blue Chip against a substantially flat performance of the major list. Investor interest is supported by rumors published by the Spanish newspaper Expasion and confirmed by the Italian group and its Spanish competitor, according to which Atlantia and Acs are in talks to divide up Abertis' Spanish and international assets, thus avoiding a war of offers that would become too onerous for both. The two contenders, with two press releases released in the morning by CNMV, the Spanish Consob, confirm that "preliminary conversations on the takeover bid are underway" but that "no agreement has been reached so far".
La Caixa, the majority shareholder of Abertis, is also participating in the negotiations. In MAdrid, Abertis loses 4,2%, while Acs advances by 7,09%.
According to Expansion, Atlantia and Acs are evaluating the possibility of launching a joint takeover bid on Abertis or some other formula in order to reach an agreement for the division of the infrastructure group's assets. The Government, according to the reconstruction, is closely following this scenario which would give an unexpected turn to the battle. And that also surprises the markets. Atlantia's takeover bid envisages a cash offer at 16,50 euros per Abertis share and a portion in shares, while the offer by Hochtief, a subsidiary of Acs, was launched at 18,76 euros per share but the company has announced want to revise its offer downwards to 18,36 euros, discounting the 0,4 euros per share that the board of directors of the Spanish company has proposed as a dividend. Hochtief's offer is still awaiting the go-ahead from the CNMV and the Italian group headed by the Benettons had repeatedly said it was waiting for this approval for any changes to its proposal with analysts and the market betting on a raise.
