ATASF - Atlantia: Speculative Contrarian Trade With Multiple Catalysts
Background
The collapse of the Morandi Bridge in 2018 is something that Italians did not take well. Not only did 43 people die, but there was evidence that concerns around the safety of the bridge were brought up internally already in 2014, suggesting a potential serious issue for infrastructure company Atlantia (ATASF). As a consequence, the coalition government seem quite determined that the concession rights of Atlantia should not be renewed and maybe even revoked. The Benetton family, who own 30% of Atlantia's shares of course counter-campaigned, deflecting blame to management.