E.C. Charges Italy For Tying Up Merger

Law360, New York (November 14, 2006, 12:00 AM EST) -- The European Commission initiated legal proceedings against Italy on Tuesday after the country attempted to thwart the $17.9 billion merger of Italian highway operator Autostrade with Spanish infrastructure company Abertis Infraestructuras SA.

The Commission, which is aiming to tear down barriers obstructing cross-border transactions in the E.U., said Italy’s reforms to its motorway concessions could threaten the merger, which is set to pave the way for the world’s largest toll-road company.

The antitrust watchdog said the Italian provisions were not justified and would unduly restrict the...
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