Centostazioni chairman quits after arrest - update

(ANSA) - Rome, March 19 - Francesco Cavallo has resigned as chairman of the board of Centostazioni, the firm said in a note Thursday. Cavallo, who was appointed February 18, was arrested Monday in connection with a probe into graft in major public works. He resigned Wednesday, the company said. Centostazioni was set up to refurbish, develop and manage 103 medium and large train stations. It is 60% owned by Ferrovie dello Stato public railway company and the remaining 40% is held by Archimede, which in turn is held by airport operator SAVE S.p.A.