Atlantia says talk of share swap ratio for Gemina merger is baseless
MILAN Jan 29 (Reuters) - Motorway group Atlantia dismissed as "baseless" press reports on Tuesday with details of its planned takeover of Rome airport operator parent Gemina , a deal seen worth around 1.1 billion euros.
Atlantia and Gemina, both controlled by Italian Benetton family's holding Sintonia, have said they are in talks to merge.
On Tuesday, Reuters reported that the transaction would take place in the form of a share swap, and may not include a cash component.
"In response to press speculation and rumors regarding a potential combination with Gemina, Atlantia wishes to reiterate that evaluation of the transaction is an at early stage," it said.
"There is no basis for any assumption regarding the eventual share swap ratio to be proposed to Gemina shareholders." (Reporting by Jennifer Clark)