BRUSSELS - The German insurance giant Allianz, among the international shareholders of Autostrade per l'Italia, presented to the European Commission a complaint against the unilateral modification of the motorway concession contracts introduced by the Italian government with the Milleproroghe decree, which opens the way to the hypothesis of revocation of the company's concession. This is what ANSA learns.
With the highway concessions rule contained in the Milleproroghe "there has been no violation of the pacta sunt servanda principle nor a retroactive modification of a pact-like regulation ," said infrastructure minister Paola De Micheli at the hearing to the Chamber. "Vieppiù - he added - in consideration of the fact that the provision is intended to explicate its effects with regard to the revocation, revocation or termination of concessions adopted after December 31, 2019".
With the rule on motorway concessions contained in the Milleproroghe "in summary, steps were taken to eliminate a privileged situation attributed, still by law, to some concessionaires ". This was stated by the Minister of Infrastructure and Transport Paola De Micheli in a hearing at the constitutional affairs and budget committees of the Chamber on the Milleproroghe decree.
"The decision on whether or not to revoke the Aspi affair was not made by the government. Today there is no decision . The undersigned is finishing, together with the offices, to write the final report that we will present to the government team".
In particular, in the above, it should be noted that art. 35 of the Milleproroghe law decree contrasts with EU legislation, which guarantees compliance with existing contracts and their unilateral non-modification by an executive from a member country. The complaint would also indicate the violation of the Community principle 'pacta sunt servanda', which was the basis of the infringement procedure opened in 2006 by Brussels against Italy, when the then minister Di Pietro modified the motorway concession contracts for law.
Allianz's complaint is in addition to the letters already sent on the same subject in recent days to the Community and Italian institutions by some shareholders of the Atlantia Group, such as the Gic Fund, the sovereign wealth fund of Singapore, and by other international shareholders of Aspi, including the Chinese Silk Road Fund. "This measure - the two letters say - is a cause of serious concern for us and for the entire investing community as it completely compromises regulatory predictability, discouraging investments and restricting the free movement of capital without justification"
The initiatives of the shareholders of Atlantia and Aspi highlight the profound malaise of the international investors who had invested in the holding company and its concessionaire by relying on certain rules, which gave their investments prospects of return that risk being distorted by the modification of the concession.
Even the general manager of Aiscat Massimo Schintu in a hearing on the Milleproroghe to the constitutional affairs and budget committees of the Chamber stresses that some government actions are not consistent with Europe. "On relations between Italy with the European Commission, I do not think I can consider some actions of this government consistent with the Community dictation".
