MILAN Feb 5 Italian highways operator Atlantia
plans to merge with Rome airport holding Gemina
without spending any cash, the chief executive of
Atlantia said in a newspaper interview on Tuesday.
Investors are waiting to hear whether the planned merger
will be carried out through a share swap plus cash component.
The transaction is seen worth about 1.1 billion euros ($1.5
"I don't want to go into the technical details," said Chief
Executive Giovanni Castellucci. "Our goal is clear: a full
merger without spending any cash, so that we don't increase
Atlantia's debt level."
Atlantia has long-term debt of 13.6 billion euros, Reuters
data shows. The company may provide more information on the
planned merger after after its board meeting on March 8.
(Reporting by Jennifer Clark; Editing by Mike Nesbit)