Conte: “we do Not do discounts for Highways”. Foreign investors criticize the Government

The revocation of the concession to Autostrade per l’italia after the collapse of the Bridge Morandi and the allegations, confirmed by some episodes finished the scrutiny of the judiciary, the poor maintenance, it makes a hypothesis more concrete.

The executive in the last few weeks is compacted against Atlantia, the holding company of the Benetton family, which holds the control of Aspi, with the side of the PD that is closer to the positions of the 5 Star Movement, have always inclined to the withdrawal of the agreements with the dealer.

To confirm the intention of the Palazzo Chigi to withdraw the concession there is a statement a few hours ago the Chairman of the Board Giuseppe Conte: “On Motorways, the Government’s decision will come soon and it will rest on a solid basis of technical-legal. By now it is evident that they have emerged from very serious shortcomings in the management of the motorway infrastructure. We do not do discounts for anyone,” said the premier.

“When there are public interests that are evident and 43 victims would call just for the fun of formula as the “certainty of law” or “rule of law”. In a state of law, the security of the citizens is in the first place. Point,” added Conte.

The reference is to the open letter of the Survey, also shared by the Italian, who a short time ago, he criticized the norm contained in the decree “Milleproroghe” , which allows the State to stop a relationship of concession without having to indemnify the concessionaire in the event of a more serious. In the message, it was claimed that the rule undermined “in a radical way the credibility of the Italian State in the eyes of international investors”.

International investors, who seem to want to address directly to the Government and the European Commission to bring pressure on Italy to soften the hard-line choice in respect of Autostrade per l’italia, worried by the potential collapse of the value of their holdings in Atlantia.

The news has been anticipated by Il Sole 24 Ore and Corriere della Sera, according to which some foreign funds, including GIC (Government of Singapore), the chinese Silk Road, and the americans of Lazard and HSBC would be to send a letter to the European Commission to complain about the illegality of the provisions contained in the decree “Milleproroghe”.

In the meantime, to resize the value of the company we have thought the credit rating agencies: after Fitch and Moody’s, which had lowered in the past few days the rating of the holding company of the Benetton family, even Standard & Poor’s has revised the rating of the companies of the Atlantia Group, lowering the opinion of Autostrade per l Italia from BBB – to BB – and to Atlantia from the previous BB+ to BB-, while the Airports of Rome passes from BBB – to BB+ and Abertis and its subsidiaries HIT and Sanef from BBB to BBB-.

Atlantia has, meanwhile, appointed Carlo Bertazzo, current member of the board of directors and General Director of Edizione Holding of the Benetton family as the new ceo of the group.