ATL Atlantia

   By Giulia Petroni 
 

Atlantia SpA's shares jumped on Wednesday after its motorway unit Autostrade per l'Italia SpA made the Italian government two new proposals in order to end their years-long dispute.

At 0945 GMT, shares trade 23% higher at EUR14.03.

The offer would see state lender Cassa Depositi e Prestiti SpA take a majority stake in Autostrade, with the company eventually being spun off from Atlantia and listed.

"The entry of CDP into ASPI is certainly positive for the bond holders; from the equity point of view, it will be necessary to define how dilutive the capital increase reserved for CDP will be," Equita Sim's Stefano Gamberini said.

The Italian government has decided to start the negotiation and postpone its decision over the company's toll road licence.

The government has been threatening to revoke Autostrade's motorway contract after a bridge run by the operator in Genoa collapsed and killed 43 people in 2018.

Write to Giulia Petroni at giulia.petroni@wsj.com

(END) Dow Jones Newswires

July 15, 2020 06:23 ET (10:23 GMT)

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