UPDATE 1-Political crisis buoys Italy's Atlantia as risk of concession loss recedes [Reuters]
ATLANTIA SPA UNSP/ADR (ATASY)
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Source: Reuters
Political crisis buoys Italy's Atlantia as risk of concession loss recedes - Reuters 3 Min Read MILAN (Reuters) - Shares in Italian toll road operator Atlantia ( ATL.MI ) rose more than 2% in early trading on Friday as a possible breakdown in the government was seen as lessening the prospect it could lose its lucrative motorway concession. The stock bucked a sinking trend on Milan’s main equity index, which was accompanied by rising sovereign bond yields, the morning after Deputy Prime Minister Matteo Salvini called for an early election. Atlantia’s concession to operate around 3,000 km of motorways, about half the Italian network, has been under threat from Salvini’s coalition partner 5-Star since a bridge it operated in northern Italy collapsed last year. Salvini, leader of the far-right League, pulled the plug on the government on Thursday, diluting that threat to a business unit which brings in a third Atlantia’s core profit. “Atlantia is rising because the 5-Star have always su
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