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Atlantia delays spin-off plans to extend talks with CDP-led consortium

·1 min read

MILAN, Oct 28 (Reuters) - Italy's Atlantia said it had delayed a shareholder vote on the spin-off of its domestic motorway business to extend talks for the sale of its Autostrade per l'Italia unit to a consortium led by state lender Cassa Depositi e Prestiti (CDP).

In a statement confirming what sources had told Reuters earlier on Wednesday, the infrastructure group said a revised offer it received this week from the CDP-led consortium for its 88% stake in Autostrade was still inadequate.

Atlantia said it would extend discussions with CDP and co-investors Macquarie and Blackstone with a view to receiving a new binding proposal by Nov. 30. (Reporting by Giuseppe Fonte, Francesca Landini, Stephen Jewkes; editing by Valentina Za)