Rome's Next Big Tourist Draw Risks Going Bust Before It Opens
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The Aquarium of Rome wanted to open this year to show the millions of pilgrims and tourists flocking to the Italian capital that there's more on offer than ancient history and old churches. Instead, it's become a study in just how hard it is to deliver landmark building projects in modern times.
Italian banks Intesa Sanpaolo SpA and UniCredit SpA still have a nominal interest in the struggling enterprise after being forced to write off 95% of their loan exposure to its owner in a previous restructuring. But talks to raise fresh cash from investors, including London-based distressed specialist Zetland Capital, have dragged on for years without conclusion, according to company filings seen by Bloomberg. That casts further doubt over the site's future.
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