PRESS RELEASE

Prior notifications of mergers and acquisitions: updating of turnover thresholds

The Competition Authority has resolved that as from 16 March 2015 the thresholds beyond which prior notification must be submitted for all acquisitions and mergers is raised to 492 million euro for the aggregate national turnover of all the undertakings involved in the operation, and to 49 million euro for the turnover of the acquired or merged undertaking.

This threshold increase, provided by section 16 of the Competition Act, is based on the increase in the GDP price deflator index which the General Report on the Economic Situation in Italy indicated as 0,83% in 2014.

Rome, 16 March 2015