The Spanish government has given its approval for the Italian motorway operator Atlantia to bid for its Spanish counterpart Abertis, which also controls the Spanish satellite operator Hispasat.
Control of Abertis is very much in play with Hochtief, the German division of Spanish builder ACS, also a part of the bidding process.
In October, the Spanish stock market regulator CNMV approved Atlantia’s bid, but was immediately asked by the government to revoke its approval because Abertis had not sought permission to acquire Hispasat.
Permission to take on the toll roads is seen as a positive step forward, welcomed by investors.
Atlantia has called a shareholder meeting for February 21.
