Italy to Solve Autostrade Impasse Soon, Gualtieri Says

(Bloomberg) -- Italy will soon find a solution to an acrimonious coalition dispute over whether to revoke toll-road concessions held by Atlantia SpA's Autostrade per l'Italia unit, Finance Minister Roberto Gualtieri said.

The acceptance of a new tolls fee framework designed by the country's Transport Authority is a precondition for an agreement, Gualtieri said Sunday in an interview on Rai 3 television. After that, the government will decide if the conditions are there for a solution “otherwise the concession revocation option is always available,” he said.

Atlantia, which is controlled by the billionaire Benetton family, has come under fire following the deadly collapse of Genoa's Morandi bridge two years ago. Government coalition parties, including the Five Star Movement, have been pushing to revoke Autostrade's toll-road concession. That could lead to complex legal proceedings as the contract for the concessions has not yet expired.

Other members of the government, including the center-left Democratic Party, have said they favor a compromise.

One option weighed by ministers last week included state lender Cassa Depositi e Prestiti SpA, infrastructure fund F2i, and others taking a 60% to 70% stake in Autostrade through a new mechanism, according to people familiar with the matter. The government could also request a 5% discount in toll fees, the people said.

Benetton chief Gianni Mion reiterated Sunday that the family is open to cutting its stake in Atlantia, daily Corriere della Sera reported.

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