Italian merger-control rules
On 5 August 2013, the Italian Competition Authority (ICA) published a communication aiming to clarify how to determine the second threshold under the amended Article 16, paragraph 1, of Law no. 287/90 in the case of newly set-up joint ventures and mergers.
Article 16, paragraph 1, of Italian Law No. 287/90 — as amended by the Decree-Law No. 1/2012, converted into Law No. 27/2012 — states that a concentration shall be notified to the ICA if (i) the Italian aggregate turnover of all undertakings concerned exceeds €482m (£417m) and (ii) the Italian turnover of the target exceeds €48m. Starting from 1 January 2013, these turnover thresholds are no longer alternative but cumulative.
With the communication, the ICA has clarified the meaning of ‘national turnover realised by the undertaking whose acquisition is expected’ (the second turnover threshold referred to in Article 16, paragraph 1, Law No 287/90), in particular in cases of the establishment of new joint ventures and mergers…
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