Italy Bids For Authority To Probe Insurance Merger

Law360, New York (August 9, 2006, 12:00 AM EDT) -- Italy’s competition authority said Wednesday it believes it is in a better position to probe the proposed merger between two Italian insurance giants than the European Union’s antitrust watchdog.

The two companies, Assicurazioni Generali SpA and Toro Assicurazioni SpA, had already asked the Commission to refer the proposed deal to Autorità Garante della Concorrenza e del Mercato, Italy’s antitrust authority, in a July 21 letter.

This week, the Italian watchdog said in a letter to the Commission that it favors a referral of the planned deal,...
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