PREMERGER NOTIFICATION THRESHOLDS ADJUSTMENT FOR 1996
PRESS RELEASE
The Italian Competition Authority, in compliance with section 16 of Law no. 287/90, has adjusted the premerger notification thresholds respectively to 636 billion lire (422 million $ approx.) for the aggregate turnover of the parties involved in the transaction, and to 63.6 billion lire (42.2 million $ approx.) for the turnover of the acquired party.
These thresholds were raised in order to take into account of price rises which, according to the General Report on the Italian Economic Situation for 1995 - that was submitted to the Parliament jointly by the Minister of the Budget and Economic Planning and the Minister of the Treasury on April 4th, 1996 - is equal to 5%.
The Competition and Fair Trading Act originally required that gross turnover thresholds were set at, respectively, 500 and 50 billion lire. In May 1995, these thresholds were raised respectively to 606 and 60.6 billion lire.