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Atlantia shares shine later on CDP-LED extend for pike assets

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MILAN, Oct 20 (Reuters) - Shares in Italian infrastructure mathematical group Atlantia vicious Sir Thomas More than 4% on Tuesday on concerns that an proffer by nation lender CDP and others for its state highway unit May non be adequate to settle down a long-working scrap with Rome.

Italy's Cassa Depositi e Prestiti (CDP) and investing funds Macquarie and Blackstone latterly on Monday bestowed a proposal to purchase Atlantia's 88% jeopardize in throughway unit Autostrade per l'Italia.

The proposal did not include whatsoever rating for Autostrade, two sources stopping point to the issue have got told Reuters, a detail that could jeopardise negotiations 'tween the DoS loaner and Atlantia.

"It is possible that this aspect is creating some uncertainty and pushes investors to sell," a dealer said.

Various document aforementioned the offer by the CDP-LED pool for 88% of Autostrade could be Worth just about 9 million euros ($10.59 billion) earlier applying a disregard to submit into answer for both risks of succeeding impairment claims and possible changes in the company's economical contrive.

Atlantia has been entangled in a legal gainsay with Eternal City since 2018, when a bridge circuit in Genova campaign by Autostrade collapsed cleanup 43 multitude.

The governing has threatened to rifle it of its state highway licence.

Atlantia shares were mastered 2.3% by 0757 GMT, underperforming Milan's FTSE MIB blue-flake index, which was apartment.

Atlantia's room will reexamination the proposal at 0900 Greenwich Time on Tuesday, sources get aforesaid.
It wish too talk about whether to hold over an Oct. 30 shareholder coming together to voting on an alternative design to betray its wager in Autostrade.

The CDP-light-emitting diode consortium, which dismiss be broadened to other Italian investors, aims to ratify a memo of intellect with Atlantia by Oct.

28, CDP aforesaid in a assertion.

A concluding offer for Autostrade volition be submitted afterward a 10-week owed diligence, the body politic lender said.

According to sources, the CDP-LED plan envisages CDP having 40% of the consortium, patch Macquarie and Blackstone each would stimulate 30%.
CDP could and so sell on set out of its post in the freeway occupation to Italian investors at a later on phase.

CDP would as well name the consortium's CEO and chairman, the populate aforesaid. ($1 = 0.8495 euros) (Coverage by Giancarlo Navach, Elvira Pollina, Giuseppe Fonte and 8th-Gen Intel Core i7-8750H Processor Sir Leslie Stephen Jewkes, penning by Agnieszka Flak, redaction by Susan Fenton)



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asked Oct 30 by JorgChamplin (140 points)

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