Spanish Ministries Request Atlantia Bid For Abertis to Be Revoked -- Update
08 Décembre 2017 - 11:35AM
Dow Jones News
By Alberto Delclaux
Two Spanish ministries said Thursday that they asked the
country's market regulator--the CNMV--to annul or revoke its
authorization of Atlantia SpA's (ATL.MI) bid for Abertis
Infraestructuras SA (ABE.MC).
The Ministry of Energy, Tourism and Digital Agenda and the
Ministry of Public Works have given the CNMV a month to reply to
the request, having said that the CNMV shouldn't have approved the
deal without their prior consent.
The ministries said that Atlantia was legally obliged to seek
their authorization to take control over Abertis, as the company
operates the majority of the country's toll roads, and requested
that Atlantia now asks for government authorization to proceed with
its bid.
Abertis also owns a majority stake in satellite company Hispasat
SA, which the government views as a strategically-important
national asset.
Atlantia said it has always complied with the CNMV's
requirements and that it had previously told the two ministries
that it would provide them with any information and documentation
relating to the Abertis bid.
"We remain available to discuss any requirements of the
government in this aspect," the company said in a statement.
The Ministry of Public Works said that Hochtief AG (HOT.XE)--the
other bidder for Abertis--had sent an authorization request to the
two ministries, which is currently being reviewed.
Atlantia's bid received the CNMV's approval in October, but
Abertis doesn't have to issue a response until Hochtief's competing
bid is approved by the regulator.
Write to Alberto Delclaux at alberto.delclaux@dowjones.com
(END) Dow Jones Newswires
December 08, 2017 05:20 ET (10:20 GMT)
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