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