Abertis/Atlantia: CNMV has until today to revoke authorisation given to Atlantia - report (translated)
08 JAN 2018
The Spanish market regulator CNMV has until today Monday (8 January) to reply to the request by the Ministries of Public Works and Energy to revoke the authorisation given to Atlantia’s [BIT:ATL] takeover offer for Abertis [BME:ABE], Expansion reported.
As previously reported, on 7 December 2017 the government of Spain’s Ministries of Public Works and Energy, Tourism and Digital Agenda issued requirements to the CNMV requesting the revocation or cancellation of the authorisation.
The requirements were based on the absence of an application by Atlantia for an authorisation from the ministries in relation to motorway concession in Spain controlled by Abertis and in relation to Abertis's interest in Hispasat. The Ministry of development is currently processing the application for authorisation submitted by last 21 December.
The Italian group's offer was approved by the CNMV Council on 9 October. The acceptance period has been interrupted pending the approval of the competing offer of Hochtief [FRA:HOT] , ACS’ [BME:ACS] German subsidiary, by the stock market supervisor.