Another step forward by state Railways on the way to the acquisition of the railway business branch of Pizzarotti Company of Parma, one of the largest Italian general contractors, which is in the Negotiated Crisis Resolution (Cnc) procedure.
Il Corriere della Sera reported that the acquisition, for a value of approximately 180 million euros, has already been formalised with a sale & purchase agreement and concerns a branch of the company active in construction of railway infrastructure with 15 contracts, for a total value of €3,5 billion. Final closing is subject to further technical and authorization requirements, including antitrust approval and the completion of the negotiated resolution process for Pizzarotti's financial crisis.
The operation is considered strategic for the State Railways, As it strengthens direct control over construction sites and reduces the risk of blockages, FS aims to complete the acquisition by the end of February, including the transfer of approximately 200 employees. The holding company FNM, which manages public transport in Lombardy, is listed on the Milan Stock Exchange (Piazza Affari), up 1,20% this morning.
Webuild stock benefits from this
Analysts, such as Websim, see this operation as a advantage for Webuild too of which Ferrovie dello Stato is a customer. Wubuild title in Piazza Affari it actually continues to rise and gains in the late morning another 3,7% to 3,55 euro after a morning high of 3,59 euros, in a market that is still buoyant following the easing in Greenland, with the FTSE MIG gaining 0,86%.
Already yesterday However, the stock, in a heavy market, had gained almost 1% on the announcement of contracts in Florida, after weeks in which it remained dormant. Currently, the consensus Bloomberg sees 5 buy ratings, 2 hold and no sell on the stock with a target price at 4,26 euros which implies a potential appreciation of around 24% from the current level.
Salvini spoke on the Strait of Messina Bridge this morning: the government is working to clarify matters with Conte dei Conti.
In Italy the big dossier for Webuild remains that of Bridge over the Streeto of Messina, the project supported above all by Matteo Salvini, ma rejected by the Court of Auditors Because it "violates European directives" with three stumbling blocks regarding the environment, tariffs, and the contract. Webuild Group is the leader of the Eurolink consortium, the general contractor responsible for designing and building the bridge.
He spoke on the topic this morning Salvini during the question time on documents and declarations by members of the Executive which qualify the'works as strategic for the purposes of national security and defense. Government, he said, he's at work to clarify even more explicitly, with data and evaluations in the forms required by the Court of Auditors, the nature and scope of the project, adding that discussions with the European Commission, both on environmental aspects and on those related to public evidence, highlighting the work carried out over the last three years.
Il Wubuild title, when last summer the approval of the Cipess (Inter-ministerial Committee for Economic Planning and Sustainable Development) for the construction of the Bridge arrived, had seen a peak above the euro 4.
