Brussels, 18/07/2007 (Agence Europe) - Following constructive discussions with the European Commission, the Italian authorities have presented a proposal for regulations designed to clarify the framework which regulates the authorisation of the transfer of motorway concessions in Italy. These regulations will take the form of a “direttiva” (to be adopted by the ministers responsible for infrastructure and the economy). The Commission announced on Wednesday that it is in favour of the Italian authorities' approach and notes that the draft direttiva aims to address the issues raised in the case brought by the Commission against Italy concerning the application of article 21 of the regulation on mergers (EUROPE 9356). Once the direttiva and its implementing provisions enter into force, the Commission will be able to close the case. “I trust that the changes being introduced by the Italian authorities will ensure that there is no recurrence of the issues that the Commission raised in its preliminary assessments” Commissioner Neelie Kroes explained. “I will continue monitoring the situation to ensure that in cases of future cross-border mergers in this sector, companies will be treated fairly and in compliance with Community rules”.
The draft direttiva states that the public interest underlying the motorway concessions regime is the sound management of the motorway network. Cross-border mergers will therefore be subject to two exclusive conditions, which are that the new concession-holder: 1) assumes all the obligations of the previous concession-holder, including planned investments, and 2) is equally capable, both financially and technically, of fulfilling these obligations. All the guarantees demanded of the new concession-holder should be proportionate and limited to that which is necessary to definitive non-implementation of agreed investments. The draft direttiva also envisages that the authorisation procedure should be closed one way or the other within 90 days, otherwise the authorisation shall be deemed to have been granted. Any negative or conditional decision should be notified to the Commission before it enters into force. Once the draft direttiva is in force and the Commission is reassured that a favourable framework has been created for possible future mergers in the sector, the Commission will be able to close the pending proceedings brought under article 21 of the regulation on mergers, which were opened in the context of the notified merger between Abertis and Autostrade. (cd)