Italy

• Pages: 1-77

CHAPTER 13

ITALY

Italy-3

CONTENTS

A. OVERVIEW ............................................................................................................ 7

1. General Policies Underlying Competition Laws ......................................... 7

a. Protection of Competition and Consumer Welfare ............................. 7

b. Protection of Smaller and Domestic Enterprises ................................ 7

2. Overview of Applicable Statutes ................................................................. 8

a. Interim Measures .............................................................................. 10

b. Commitments .................................................................................... 11

c. Leniency Program ............................................................................. 11

3. Overview of Structure, Independence,

and Jurisdiction of Enforcement Agencies ................................................ 11

4. Overview of Structure, Independence,

and Jurisdiction of Judicial Authorities .................................................... 12

B. SUBSTANTIVE LAW ............................................................................................ 13

1. Horizontal Agreements and Practices ....................................................... 13

a. Generally........................................................................................... 13

(1) Definition of an Undertaking ................................................... 13

(2) Agreements, Decisions, and Concerted Practices .................... 14

(3) Restrictive Object or Effect ...................................................... 16

(4) Substantiality of the Restriction ............................................... 16

b. Cartel Enforcement ........................................................................... 16

(1) Agreements Covered ................................................................ 17

(a) Fixing of prices or other contractual obligations ............... 17

(b) Market allocation ............................................................... 17

(c) Information exchanges ...................................................... 18

(2) Leniency Program .................................................................... 18

(3) Penalties ................................................................................... 19

(a) Generally ........................................................................... 19

(b) Aggravating and mitigating circumstances ....................... 20

(c) Relevant turnover for calculation of a fine ........................ 21

(4) Intragroup Conspiracy .............................................................. 22

2. Mergers and Acquisitions .......................................................................... 22

a. Transactions Covered ....................................................................... 22

(1) Mergers .................................................................................... 22

(2) Acquisition of Control .............................................................. 23

(3) Transactions That Do Not Constitute a Concentration ............. 25

(a) Acquisitions of a purely financial interest ......................... 25

(b) Creation of a cooperative joint venture ............................. 25

(c) Transactions between undertakings

that are not independent ..................................................... 26

(d) Transactions involving companies

not engage in economic activities ............................................ 26

(4) Reportable Concentrations ....................................................... 26

(5) Non-Reportable Concentrations ............................................... 28

(6) Assessment of Concentrations.................................................. 28