Eight investment banks advising on the $27.4bn (€20.7bn) takeover bid by Spain's Abertis for Italian toll road operator Autostrade will miss out on a fee pot worth about $80m after the deal collapsed this morning.

The companies released a joint statement after the boards met at 08:00 GMT. They said regulatory hurdles made it "impossible to proceed with the merger as approved by shareholder meetings June 30".

Bank fee hopes crash as Italian road deal collapses

Nick Clark

Abertis

BNP Paribas

Citigroup

JP Morgan

UniCredit

Morgan Stanley

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Mediobanca

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