Italy’s Atlantia SpA trades at four-year low as country moves to revoke its toll-road license

Georgeta Gheorghe 20/08/2018 | 15:03

Italian holding company operating toll motorways and airports Atlantia SpA traded at a four-year low after the country moved to revoke the country’s toll-highway operating concessions after the Genoa bridge disaster last week.

The company’s stock fell as much as 10 percent. Today it was down 8.6 percent at EUR 17.68, the lowest on a closing-price basis since October 2014.

After the August 14 highway bridge collapse, which killed 43, the Rome-based builder lost about a quarter of its value. Its recent valuation is EUR 14,6 million.

The company, owned by the Benetton family, offered EUR 500 million in initial funding to help victims of the Genoa bridge disaster. The fund will also be used to support the region in repairing damaged road and rail links.

According to the company’s CEO, Giovanni Castellucci, a plan to rebuild the collapsed bridge in eight months could start today.

According to Bloomberg, the compensation offer is meant to build good will for the Benettons, who are trying to avoid the potential loss of the lucrative toll-road concession.




BR Magazine | Latest Issue

Download PDF or read online: November 2022 Issue | Business Review Magazine

The November 2022 issue of Business Review Magazine is now available in digital format, featuring the main cover story titled “Samsung Remains Top Consumer Tech Provider on Romanian Market.” Read
Georgeta Gheorghe | 29/11/2022 | 10:17

    You will receive a download link for the latest issue of Business Review Magazine in PDF format, based on the completion of the form below.

    I agree with the Privacy policy of
    I agree with the storage and handling of my data by
    Advertisement Advertisement
    Close ×

    We use cookies for keeping our website reliable and secure, personalising content and ads, providing social media features and to analyse how our website is used.

    Accept & continue