A giant toll road operator looms on the horizon

Italy's Autostrade and Spain's Abertis, two toll road operators, announced a merger on Sunday, April 23 that would spawn the world's leading company in this sector. Economist Francesco Giavazzi approves of the deal. "In order to become a modern country, we must shift part of our capital from industry to services... The expansion of Unicredito in Germany and Poland, Enel's intention of acquiring France's Suez and the merger between Autostrade and Abertis are beginning to lend a European complexion to our service enterprises... In order to bring the Eastern countries into the heart of Europe, we need to build 2,000 kilometres of highways and 5,000 kilometres of express roads. ... But Autostrade, accustomed to the domestic routine, does not have the necessary capacity. The merger with Abertis may change the equation."

» more information (external link, Italian)
More from the press review on the subject » Economy, » Italy
All available articles from » Francesco Giavazzi

» To the complete press review of Monday, April 24, 2006