Brussels, 23/07/2001 (Agence Europe) - The Commission's services responsible for competition have passed down their verdict on the bid made by the Italian group Fiat, associated with the French EDF, through their joint-venture Italenergia for Montedison, considering that the bid did have to be notified to it. The European Executive first examined who exercised actual control within Italenergia. Due to the latest changes within the company's shareholding (in particular the limit n EDF's voting rights to 2%), it concluded that Fiat had taken control in Italenergia, and thus of Montedison. Yet, Fiat not making two-thirds of its turnover on Italian territory alone, the operation requires notification to the Commission. The latter has therefore invited Fiat and EDF to notify the bid in question to it. Once notification has been submitted, the Commission has a month to give the go-ahead to the bid or engage in a four month in-depth investigation. The launch of the European procedure will not however prevent Italenergia from making a bid. Montedison has in fact just concluded a friendly deal with the Fiat-EDF couple by which it accepts the 3.16 euro per share and has decided against any legal action against the bid which should begin on 26 July and end on 21 August.