A2A: Carnevali, our strategic stake; we do not hold any shares

For the mayor of Bergamo, 0.72 per cent is a key figure

The stake in A2A is ‘strategic’, not only because of the dividends received each year but ‘for many reasons’. This was stated by the Mayor of Bergamo, Elena Carnevali, when interviewed by Radiocor on the sidelines of the presentation of A2A’s 11th territorial sustainability report for Bergamo. The stake, amounting to 0.72 per cent of the share capital, has provided the Bergamo local authority with €2.3 million in dividends this year. It should be noted that the controlling shareholders of A2A are Milan and Brescia (bound by a shareholders’ agreement), each of which holds 25 per cent plus one share.

This is not merely an economic and financial issue, Carnevali points out, but rather the “capacity demonstrated by A2A over recent years to be an innovative company, with positive benefits for the local area, and one that has forged close links with the local business community”. Furthermore, ‘it is supporting us in various investments, both in terms of employment and in the project to achieve, as the city of Bergamo, climate neutrality by 2030 – that is, 20 years ahead of the European targets’.

In short, the mayor concluded, we are talking about a company that ‘has the capacity to take a strategic, long-term view’, and for this reason the council does not intend to sell any shares to raise funds. For this year, the City Council had authorised the sale of a stake worth over 3 million euros, but Carnevali emphasises that no further shares will be put on the market.

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