February 4, 2020 / 9:28 AM / 22 days ago

Shares in Atlantia rise after Italy motorway lobby drops concession lawsuit

FILE PHOTO: An Atlantia sign outside the company's headquarters in Rome, Italy, August 31, 2018. REUTERS/Alessandro Bianchi/File Photo

MILANO (Reuters) - Shares in Italian infrastructure group Atlantia (ATL.MI) rose on Tuesday after the country’s main motorway lobby dropped a court appeal against a government decree that makes it easier to revoke highway concessions.

Shares in Atlantia gained 2.4% by 0900 GMT, outperforming a 1.3% rise in Italy's blue-chip stock index .FTMIB.

Lobby group AISCAT, which includes Atlantia’s motorway unit Autostrade per l’Italia, on Monday said it had decided to withdraw the claim because it was confident the dispute with the government would be resolved.

The decree, which is due to be approved in parliament by the end of February, curbs compensation for early termination of a contract when the concession holder is in breach of its obligations.

Writing by Cristina Carlevaro, editing by Valentina Za

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below