Abertis/Atlantia: Spanish Ministry of Energy still reluctant to grant approval - report (translated)
26 JAN 2018
The Spanish government has reduced its pressure on the takeover bid by Italian infrastructure group Atlantia [BIT:ATL] on its Spanish counterpart Abertis [BME:ABE], but the Ministry of Energy is still reluctant to give its approval, Expansion reported.
According to the paper, the Council of Ministers will approve Atlantia’s offer today Friday (26 January) at the proposal of the Ministry of Public Works, the report said, citing sources close to the government.
Minister of Economy, Luis De Guindos, who has defended the government’s neutrality said yesterday in Davos that the transaction is unlikely to get stuck in court. De Guindos is convinced that the two ministries will not take the market regulator to court over their different approaches to the Abertis takeover bids.
De Guindos went on to say that the CNMV is doing its job and suggested the controversy is over since both Atlantia and counter bidder Hochtief [FRA:HOT] (German unit of Spanish infrastructure group ACS [BME:ACS]) have requested authorisations.
Other ministries such as the Ministry of Employment will give their views on the transaction today, the Spanish-language paper added.