Atlantia waiting for government to reply on motorway investment proposal: CEO to paper

MILAN (Reuters) – Atlantia <ATL.MI> is waiting for a reply from the Italian government over proposals it has made to modernize the motorways it runs, the group’s chief executive said on Friday.

In an interview with Corriere della Sera, Carlo Bertazzo said the priority was to share with the government a program aimed at upgrading the motorways.

“An articulated proposal has already been sent to the government and we are waiting for a reply,” he said.

Italy’s governing coalition has threatened to strip Atlantia’s motorway unit Autostrade per l’Italia of its concession following a bridge disaster which killed 43 people in the northern city of Genoa in 2018.

Bertazzo said it was important to clarify the rules contained in the motorway concession. “We can also redraft clear conditions on revocation (of the concession),” he said.

Bertazzo said the group was also open to allowing new shareholders on board in its Autostrade unit, even majority shareholders.

(Reporting by Stephen Jewkes)