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Atlantia CEO says not afraid of possible counter-bid for Abertis

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Atlantia CEO says not afraid of possible counter-bid for Abertis

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ROME (Reuters) – The chief executive of Atlantia <ATL.MI> shrugged off the risk of a counter offer for its Spanish takeover target Abertis <ABE.MC>, saying the Italian motorway group had “broad enough shoulders.” Atlantia in May offered 16.3 billion euros (14.57 billion pounds) in a cash-and-equity bid to buy Abertis. The Italian group registered the bid on Abertis with the Spanish regulator in June and it is still waiting for a response both from the watchdog and from Abertis’ top shareholders. In the meantime, Spanish builder ACS <ACS.MC> said it may launch a counter-bid for Abertis together with other investors. “We think we have broad enough shoulders,” Atlantia CEO Giovanni Castellucci told shareholders when asked about the possible ACS’s counter-offer.

(Reporting by Giuseppe Fonte; writing by Francesca Landini, editing by Valentina Za)
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