MADRID (AFX) - Italy's infrastructure minister denied accusations of protectionism in Rome's decision to block the 25 bln eur merger between Spanish road toll operator Abertis Infraestructuras and Italian peer Autostrade SpA.
'The affair is not Spanish-Italian, it's exclusively Italian,' Antonio di Pietro told the Sunday edition of Spanish newspaper El Mundo.
'The Italian government is opposed to the transfer of the concession from the current holder (Autostrade) to another (the merged Autostrade and Abertis) before problems related to this concession are resolved with Autostrade,' he added.
Earlier this month Italy's centre-left government blocked the proposed merger because the deal was deemed 'not compatible' with Rome's concession to operate tolls on Italy's motorways with the firm.
It was also opposed because Abertis's main shareholder is Spanish construction company ACS, implying a conflict of interest.
Although the two companies have portrayed the deal as a merger of equals, Rome has seen it more as a Spanish takeover, since the transaction would be dominated by Spanish capital.
'We are absolutely not opposed to Abertis. But on the other hand, we have very substantial reservations concerning Autostrade's concession, and we believe that it should be reviewed because it is gravely detrimental to the public interest in our country,' the former judge told the paper.
'If Abertis wants to acquire Autostrade, it can. But it should know that it is going to acquire a company whose source of revenue is subject to review, with all the economic and legal consequences that this situation implies.'
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