UK markets open in 4 hours 59 minutes
  • NIKKEI 225

    23,261.98
    -156.53 (-0.67%)
     
  • HANG SENG

    24,416.78
    -292.02 (-1.18%)
     
  • CRUDE OIL

    37.46
    +0.07 (+0.19%)
     
  • GOLD FUTURES

    1,878.00
    -1.20 (-0.06%)
     
  • DOW

    26,519.95
    -943.24 (-3.43%)
     
  • BTC-GBP

    10,193.99
    +18.36 (+0.18%)
     
  • CMC Crypto 200

    262.09
    -10.60 (-3.89%)
     
  • ^IXIC

    11,004.87
    -426.48 (-3.73%)
     
  • ^FTAS

    3,155.25
    -78.74 (-2.43%)
     

Italy pushes back deadline in concession row with Atlantia - government sources

·1-min read

ROME (Reuters) - Italy's government has pushed back the deadline to make a decision on whether to revoke Atlantia's <ATL.MI> motorway unit concession, two government sources said on Wednesday, as a dispute between the infrastructure group and Rome festers.

The sources said the government would meet in the next 10 days to strip Autostrade per l'Italia of its lucrative toll-road concession if Atlantia did not come up with new proposals.

Rome initially set Wednesday as a deadline and the Cabinet met earlier to discuss developments in the long-standing motorway dispute, triggered by the collapse of a bridge in Genoa more than two years ago that claimed 43 lives.

A company source said earlier on Wednesday that Atlantia was relying on mediation by Prime Minister Giuseppe Conte to avoid revocation of its concession.

Such a move would trigger a default on a European scale, with 7,000 jobs and some 16.5 billion euros ($19.3 billion) of debt at risk, the source said.

Rome has said it is ready to revoke Autostrade's concession if the Benetton-backed infrastructure group fails to agree on a deal to sell the unit to state lender CDP.

(Reporting by Giuseppe Fonte and Stefano Bernabei; Writing by Giulio Piovaccari; Editing by Gavin Jones and Peter Cooney)