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| EU warns Italy on Abertis-Autostrade merger The European Commission said Italy has violated Article 21 of the EU Merger Regulation due to the lack of authorisation for the transfer of the motorway concession within the new entity resulting from the planned merger between Abertis of Spain and Autostrade of Italy (both active in the management of toll motorways). This lack of authorisation was one of the reasons cited by Abertis and Autostrade for abandoning the planned merger, which was approved without conditions by the Commission on 22nd September 2006. This is a merger of a European dimension falling within the exclusive competence of the Commission under the EU Merger Regulation. National authorities should not do any more than verify that a concession holder will remain financially viable and able to carry out its investment obligations after a merger. Last October, the Commission had already expressed its doubts with regard to previous decisions refusing the transfer of the concession, but these decisions were subsequently withdrawn. The Italian authorities have 15 working days to express their views on the Commission's preliminary assessment. write your comments about the article :: © 2007 Construction News :: home page |