Milan, Turin study merger of local transport companies |
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Published
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Tue, 08 Jan 2008 09:12
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MILAN (Thomson Financial) - The cities of Milan and Turin are studying the possibility of merging their local transport companies, the daily La Repubblica said citing Turin mayor Sergio Chiamparino.For the time being the two cities are only holding preliminary talks but the project offers have ry interesting opportunities', Chiamparino said.The merger of Milan's ATM and Turin's GTT would create a group with revenues of more than 1 bln eur, according to the newspaper.The transaction would enable reinforcement of the two public companies, whose capital could be opened to private investors, the mayor said.Daniele Borioli, who is in charge of transport for the Piedmont region where Turin is situated, also told La Repubblica that the merged group could diversify in railway transport and logistics.philip.webster@thomson.compw/salCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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Turin mayor open to Iride, A2A merger if municipalities' stake is below 30 pct 