EDIZIONE HOLDING/AUTOSTRADE-CONCESSIONI E COSTRUZIONI AUTOSTRADE
PRESS RELEASE
PRESS RELEASE
An investigation has begun into the acquisition of Autostrade by Edizione Holding
The Competition Authority has begun an investigation into the acquisition by Edizione Holding S.p.A. of the Autostrade S.p.A. company.
The activities involved in the operation are: a) the management of the motorway network; b) the subfranchising of the services provided on the service areas of the motorway network, and c) the catering services provided to motorists on the service areas on the motorway network.
The Autostrade company operates on the first two markets as the franchisee, directly and through its subsidiaries, on various sections of the national toll motorway network (about 56 percent in terms of kilometres). The motorway network catering services, on the other hand, are provided by the Autogrill company which is a subsidiary of Edizione Holding, operating under subfranchises granted by Autostrade. Autogrill operates on about 70 percent of the motorway service stations, and holds a dominant position on the motorway catering market, earning over 80 percent of its aggregate turnover from its motorway catering services. Furthermore, Autogrill is the only company operating on long sections of the motorway network.
The operation does not therefore create any overlapping market shares but vertical integration, because Edizione Holding, which operates on the motorway catering services market through the Autogrill company, will subsequently be in a position to control the way in which the subfranchises for these services are issued following its acquisition of the Autostrade company.
The investigation will ascertain whether this vertical integration operation is likely to strengthen Autogrill’s dominant position on the motorway catering services market, since it may receive favourable treatment when Autostrade renews expiring subfranchises or issues new ones.
The investigation will be completed by the beginning of March.
Rome, 24 January 2000