Breakingviews - Draghi’s corporate inbox will keep flashing red

  • 3/31/2021
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March 19, 2021. MILAN (Reuters Breakingviews) - Italian Prime Minister Mario Draghi has inherited a slate of corporate headaches from his predecessor. His to-do list includes selling dud lender Banca Monte dei Paschi di Siena, resurrecting – yet again - ailing airline Alitalia, building an expanded broadband network and ending a bitter motorway row. While the former European Central Bank chief focuses on vaccinations and economic recovery, investors should expect these secondary tasks will slip to the bottom of his pile. Some of these issues were top priorities under former premier Giuseppe Conte, who promoted state activism in industry. Rome spent over two years trying to strip the Benetton sweaters-to-infrastructure dynasty of lucrative toll road operator Autostrade per l’Italia (ASPI), a unit of 13 billion euro Atlantia, in retaliation for a fatal viaduct collapse. Conte earmarked 3 billion euros to renationalise Alitalia instead of a sale.

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