Highways today is D-Day. All eyes are on the highly anticipated Board of Atlantia, the Benetton-led holding that controls Autostrade, but if its moves match the rumors on the eve, the break with the Government seems inevitable and on the table could return the weapon of revocation of the motorway concession.
After surveying its shareholders and above all Autostrade's international investors, Atlantia would be willing to decide on the spin off of Autostrade and its sale on the market. An operation that would greatly reduce the role of the CDP, which, according to the agreements of July 15thInstead, he aimed to enter in Autostrade through a reserved capital increase and to take the lead. But this last assumption it has greatly alarmed international funds, long-time Benetton partners in Autostrade, who fear diluting themselves too much.
Their grievances – along with two big unresolved issues like the calculation and attribution of the debt e indemnification for past responsibilities of Autostrade – would have induced Benetton to change course, even at the cost of infuriating Prime Minister Giuseppe Conte, who on Wednesday recommended to the competent ministers – Gualtieri and De Micheli above all – but also to the CDP to avoid irrevocable moves by Atlantia and seek a compromise in extremis, except to put back on the table the weapon of revoking the concession in case of disagreement.
Today the curtain rises on the future of Autostrade, but, barring a last-minute reconciliation, the air that blows is that of a thunderous break with the Government, with all that goes with it. And it is no coincidence that yesterday the bag rewarded Atlantia's stock, which it sees as free from state mortgages, with a leap of more than 3 percent.
