Shares of Italy's Autostrade Surge
MILAN, Italy (AP) - Shares of Autostrade SpA surged Monday after the Italian highway operator and Spain's Abertis confirmed plans to merge in a deal that would create Europe's largest highway and infrastructure operator. Shares in the company gained nearly 9 percent to euro24.70 (US$30.42) on the Milan exchange. Abertis also was trading higher, up 3.2 percent at euro21.60 (US$26.60).
Trading volume on the Milan exchange was high, despite the absence of many participants due to a national holiday in Italy on Tuesday and grumbling by some center-left politicians, who are expected to form the next government, about basing the new group in Spain rather than Italy.
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