Rome Mayor Ignazio Marino said
Friday the city will be seeking private partners to buy a
minority stake in ATAC public transport company.
"Beginning today, the city, the region and ATAC commit to
seeking an industrial partner while maintaining a majority
public stake," the mayor said.
The decision was taken jointly with Lazio Governor Nicola
Zingaretti, the mayor said.
"We've given ATAC a mandate to write up a strong and
realistic industrial plan" in order to attract investors, he
said, adding this will bring about "the end of in-house
management beginning in 2019".
"The only other alternative was shutting ATAC down and
taking its books to court," Marino said.
"It would have been the easiest solution".
The mayor went on to say the city has decided to inject
another 200 million euros into the ailing company, in the form
of cash and assets.
"We found a situation that can only be defined as
bankruptcy and unsustainable debt levels," said Marino, who took
office in 2013.
"We tried to restore ATAC to health without filing for
bankruptcy, but this process has not given the results needed
for the quality of life of people using the public transport
system".
The mayor added the region has agreed to transfer 301
million euros to the city by September 30.
"This is by way of payment of old contributions that had
been denied by right-wing (regional governments) in previous
years," Marino said.
Both the mayor and the governor are from the center-left
Democratic Party of Premier Matteo Renzi.
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