Section 16 (1) of Law No. 287 of 1990 provides for a prior notification of all mergers and acquisitions in Italy which fall within certain thresholds.
In light of the above, the Italian Competition Authority (“ICA”) publishes annual new merger control thresholds. This year, as of 16th March 2015, a concentration shall be notified to the ICA whether it meets the new cumulative conditions below:
- The aggregate turnover in Italy of all undertakings involved exceeds €492 million instead of €489 million, and
- The aggregate domestic turnover of the target undertaking is above € 49 million. (This requirement has not been changed by the ICA.)
The thresholds increase follows the rationale underpinning an earlier reform, effective from 1st January 2013, which made the thresholds cumulative rather than alternative. This in order to reduce the number of merger notifications in Italy. The aim was to allow the ICA to focus only on merger cases which are more likely to reduce the competition on the Italian market.