The risk that Autostrade per l'Italia (Aspi) may be withdrawn from the concession without compensation, enters Atlantia on the stock exchange, with the holding of the Benetton family that heralds a legal battle with no holds barred to avoid a measure that would decree the bankruptcy of Aspi, with very heavy impacts for Atlantia itself and its subsidiaries. And in the letter sent late in the evening to the government, he threatened to take the initiative to dissolve the contract, thus initiating the request for a maximum compensation of € 23-25 billion. A letter defined, to which one learns, "unacceptable" by the minister Paola De Micheli.
The merciless picture of the system of motorway concessions outlined by the Court of Auditors contributes to throwing gas on the fire, in an already incandescent climate, where the winners are the private individuals, who ensure unjustified profits, skimp on investments, the concessions are extended without tender, and to lose is the public interest in an efficient, safe and transparent management of the almost 7,000 km of motorway network.
The possibility that the Milleproroghe paves the way for a revocation of the concessions without compensation (estimated by Mediobanca at 22 billion for Aspi) and entrusts its management to Anas, has frightened investors. Atlantia lost 4.85% by burning 883 million euros. In the event of revocation, Aspi would default, not having the resources to repay 10.8 billion bonds and 7 thousand jobs would be at risk. Atlantia's rating would become 'junk', with chain effects on its subsidiaries, from Adr to Abertis. "If confirmed Article 33 would be very negative leading to a substantial reduction in the value of the compensation for Aspi and raising the level of confrontation", analysts of Equita write, according to which, however, the rule would aim to "strengthen" the government position "in the renegotiation of the contract with Autostrade". The hypothesis of modifying "some clauses" of the agreement ", Aspi said, presents" relevant profiles of unconstitutionality and opposition to European standards ", in relation to which the company" is evaluating every initiative "to protect its rights. Aspi warned Mit, Mef and Prime Minister Conte that the adoption of a similar rule would determine the termination of the agreement (art.9-bis paragraph 4), triggering the right to maxi-compensation.
