Spanish Ministries Request Atlantia Bid For Abertis to Be Revoked
December 07 2017 - 1:35PM
Dow Jones News
By Alberto Delclaux
Two Spanish ministries requested the country's market authority
to annul or revoke its authorization of the Atlantia SpA (ATL.MI)
bid for Abertis Infraestructuras SA (ABE.MC), the market authority
said Thursday.
The Ministry of Energy, Tourism and Digital Agenda and the
Ministry of Public Works say the deal should not have been given
the green light by the National Securities Market
Commission--Spain's market regulator--without their prior consent.
The ministries said that Atlantia should have asked for their
authorization to take control over the Abertis-owned Spanish
highway concessionaires and Hispasat SA, which operates satellites.
The ministries are now requesting Atlantia asks for government
authorization.
The market authority has a month to answer, it said.
The Ministry of Public Works said that Hochtief AG (HOT.XE)--the
other bidder for Abertis--had sent a an authorization request to
the two ministries, which is currently being reviewed.
According to the National Securities Market Commission, the
acceptance period for Atlantia's bid is currently on hold until the
competing offer presented by Hochtief is greenlit by the market
authority.
Write to Alberto Delclaux at alberto.delclaux@dowjones.com
(END) Dow Jones Newswires
December 07, 2017 13:20 ET (18:20 GMT)
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