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Benettons Confront Italy's Populists Over Bridge Disaster

  • Family vows to fight any effort to take away road concession
  • Stock, bond losses pared after government limits initial move
Bloomberg business news
Atlantia Stocks, Bonds Decline as Italy Moves to Revoke Concessions
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The Benetton family vowed to fight the Italian government’s seizure of its road-toll assets in the wake of a deadly bridge collapse, in a confrontation between one of the country’s preeminent industrial dynasties and populist politicians demanding justice for a disaster that killed at least 39 people.

Investors in Atlantia SpA, the infrastructure company controlled by the family, faced dramatic losses Thursday after the accident ignited a political firestorm and Italian officials started the process to revoke the company’s road concession. The company said it would protect shareholders and bondholders.