Abstract

After the collapse of the Morandi bridge in Genoa, Atlantia has been forced to sell Autostrade per l’Italia (Aspi) to the State-controlled Cassa depositi e prestiti, and this raises several questions. This paper illustrates some critical aspects of the initial concession, and shows how the State has intervened upon it, before a clear assessment of private and public responsibilities for the event. This has taken place through changes in the law – specifically finalized to modify the relationship between the Ministry and Aspi – and in the regulation, with heavy financial consequences on the firm. The return of Aspi under State control matches other cases, and casts further doubts on a privatization process which seems totally reversible.