Reuters: Mergers News: UPDATE 1-Atlantia says interest strong in Chilean sale

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UPDATE 1-Atlantia says interest strong in Chilean sale Mar 30th 2012, 12:44 Fri Mar 30, 2012 8:44am EDT CERNOBBIO, Italy, March 30 (Reuters) - Italian road operator Atlantia said on Friday its plan to sell a stake of up to 49 percent in its Chilean unit Grupo Costanera has attracted strong interest but no formal bids as yet. Earlier Atlantia's chairman Fabio Cerchiai said Grupo Costanera had received more than 10 offers. "The company confirms there is a strong spontaneous interest from several institutional investors for those assets but at the moment this has not translated into any formal offer," the Rome-based company said in a statement. In February, Atlantia agreed to buy the remaining 54.2 percent of the Grupo Costanera holding company for 670 million euros ($890 million). In other comments on Friday, Cerchiai said he expected traffic on the group's Italian road toll network to have fallen 10 percent in the first quarter, in line with the first two months of 2011, dragged down by exceptionally bad weather. At 1210 GMT Atlantia shares were up 1.6 percent while the Italian blue-chip index was up 0.77 percent.

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