Atlantia shares plunge 25% after fatal Italian bridge disaster
Italy’s biggest toll-road operator has come under attack from investors, after the government threatened heavy penalties for the disaster in which dozens of people died
Genoa — Italy’s biggest toll-road operator came under heavy stock-market attack on Thursday after Rome criticised it for a deadly bridge collapse this week, moving to revoke its concession and accusing it of failing to ensure the viaduct’s safety. An 80m-long section of the bridge, part of a highway linking the port city of Genoa with southern France, gave way on Tuesday in busy lunchtime traffic, sending dozens of vehicles into free-fall and killing at least 38 people. Autostrade per l’Italia, part of Milan-listed international toll-road group Atlantia, operated the motorway. It has said it made regular and thorough safety checks on the 1.2km-long bridge, completed in 1967 and overhauled two years ago. But the government has turned on Autostrade for the disaster, threatening it with heavy fines and demanding it contribute to the bridge’s reconstruction — though investigators have yet to identify the exact cause. Atlantia shares fell 25% on Thursday morning, after being indicated do...
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