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Image header Agence Europe
Europe Daily Bulletin No. 8044
Contents Publication in full By article 31 / 42
GENERAL NEWS / (eu) eu/competition

Commission postpones Pirelli/Olivetti/Telecom Italia decision date

Brussels, 10/09/2001 (Agence Europe) - In a press release on Saturday, the Commission explained that the postponement from 17 to 27 September of the provisional deadline for the decision on the Pirelli/Olivetti/Telecom Italia operation was simply the "automatic consequence of the fact that the parties have presented" proposed commitments. The European Commission explainrf that it would be carefully examining these commitments with a view to reaching a decision by 17 September if possible. On 14 August, the Commission received notification of Pirelli SpA's plan to directly take over Olivetti SpA and also, indirectly, Telecom Italia SpA, which is controlled by Olivetti. On preliminary examination, the Commission found that the operation could fall under the Regulation on mergers and acquisitions. (See Official Journal C238 dated 24 August.)

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