Italy's Atlantia, which controls airport operator Aeroporti di Roma S.p.A (AdR), said on Tuesday it has not intention to sell a minority stake in the group that runs Rome's airports to foreign institutional investors.

In a statement, Atlantia said a bond issuance in December had given AdR all the financial muscle it needed to fund its five-year business plan.

Italian media sources had said Abu Dhabi-based carrier Etihad Airways could be interested in buying a stake in Rome's biggest airport Fiumicino. However, Etihad's CEO said last month the company was not planning to buy a stake in Fiumicino.

In March 2013, Gemina, the company that owns Rome airport operator ADR, merged with Italian motorway group Atlantia to create one of the biggest European motorway and airport groups with businesses in Italy and Latin America.

The structure of the transaction envisaged Gemina's absorption by Atlantia, which will remain the sole holding company. There will be no cash payments. Atlantia and Gemina approved the following exchange ratio: 1 ordinary share in Atlantia with a par value of €1 each for every 9 ordinary shares in Gemina.

Atlantia and Gemina said they aim to invest together in the expansion of the airport sector in Italy, more concretely in ADR's investment programme of approximately €12 billion.