Italy rethinks legislative bar to merger

Following is a letter sent to the Editor of the Financial Times:

Sir,

The fact that Italy has thought again about the restrictions it has placed on the attempted takeover of Autostrade by Abertis of Spain (¨Italy rethinks legislative bar to merger¨ Financial Times October 5, 2006) may indeed be that they have come to agree that non-italian companies, especially from other parts of the European Union, have the right to participate in their market.

More likely is that they see that their obvious and illegal barriers will not fly with the European Commission and will come up with even more creative ways of thwarting the takeover.

Perhaps the Italian government is right. If yoghurt, mineral water and biscuits can be considered a national jewel and defended, as the French government successfully did with Danone, against a rumoured bid from Pepsico, without a peep from the EU, why not roadside restaurants.

Onésimo Alvarez-Moro

See article:
The Italian government yesterday appeared to be softening its stance on the proposed merger of Autostrade, the toll road company, with Abertis of Spain, by rethinking a legislative measure that would make the deal harder to complete.

Officials in Rome have said the measure could land Italy in more trouble with the European Commission, which is already investigating Rome's actions over Autostrade.

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