Privatization of essential services is a huge mistake, in my opinion, we have seen what a fiasco privatizing electricity production has been…. this does not bode well. The Pennsylvania Turnpike is now controlled by a foreign company to boot!
Abertis’ winning of the biggest toll road deal in U.S. history is a major strategic victory analysts said, but added the Spanish firm’s joint bid was expensive.
Pennsylvania Governor Ed Rendell named the Abertis consortium, which includes Citigroup and Spain’s Criteria Caixacorp, as the preferred bidder on Monday after it offered $12.8 billion to lease the Pennsylvania Turnpike for 75 years.
Merrill Lynch analyst Paul Butler said in a note to clients that the deal was strategically positive for Barcelona-based Abertis — moving it into the attractive U.S. market and extending its average concession life to 28 years from 18.
We cannot continue to let this happen if we are to grow our own economy.