Milan is the Italian municipality with the richest subsidiaries. The data emerges from a survey by Mediobanca's Research Area on the major companies in which local authorities have a stake.
If the entire portfolio of the investees examined is worth approximately 13,9 billion (of which 5,2 billion in market value), the richest municipality is Milano, with a package of shareholdings from 2,3 billion. The portfolio includes, among others, 25% of A2A, 55% in Sea and 100% of Atm.
Follow Roma (1,5 billion), Brescia (1,24 billion) e Torino (1 billion), while among the Regions the Valle d'Aosta (943 million) thanks to the control of the hydroelectric giant Cva.
Milan also stands out in terms of turnover with 5,7 billion in 2016, followed by Bologna and Rome with 4,8 billion and Brescia with 2,6 billion while, for accumulated profits in the last five years, the Lombard capital is in second place with 794 million behind Bologna (842 million thanks to Hera) and ahead of Trento (544 million thanks to the controlling interest in the A22 motorway).
Il Local public transport the black hole of the municipal companies is confirmed: in five years 729 million of accumulated losses have been generated despite the 13,6 billion of resources arrived from the public coffers.
Such a substantial portfolio of subsidiaries has allowed Milan to break away dividends of 78 million total in 2017 (thanks to Sea and A2A): ahead of the city there is only the Val d'Aosta Region which with Cva (100% controlled) has collected 100 million coupons.
Updated at 12:22
