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Italy industry minister says Atlantia cannot join Alitalia rescue

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Italy industry minister says Atlantia cannot join Alitalia rescue
FILE PHOTO: 5 Star leader and Italian Deputy Prime Minister Luigi di Maio presents his EU election program in Rome, Italy, May 2, 2019. REUTERS/Yara Nardi   -   Copyright  Yara Nardi(Reuters)
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MILAN (Reuters) – Italian Industry Minister Luigi Di Maio ruled out involvement of infrastructure group Atlantia <ATL.MI> in a rescue of ailing airline Alitalia, saying Atlantia was set to lose its national motorway concession and would not be a desirable investment partner.

Atlantia has never expressed an interest in investing in Alitalia, but there is persistent speculation that it might do so in an effort to mend relations with the government and in particular Di Maio who has vowed to scrap the concession over a deadly bridge collapse on the company’s road network last year.

ANSA news agency quoted Di Maio as telling a TV show on Thursday that the loss of the concession would hurt Atlantia’s market value and make it an undesirable investor.

“Atlantia is cooked, it cannot be involved,” ANSA quoted him as telling the “Porta a Porta” show.

(Reporting by Francesca Landini; Editing by Mark Bendeich)

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