The Italian Parliament approves liberalization law introducing important changes to the Italian merger control system

ICN’s Recommended Practices I and II [1] state that competition agencies should not assert jurisdiction over a merger unless the transaction would have an appreciable impact in the jurisdiction (the “local nexus” test), so that merger control filing requirements should be triggered only over transactions that have a true nexus with the jurisdiction concerned, provided that the latter meets an appropriate standard of materiality, based on the merging parties’ activity within that jurisdiction. As per Practice I.C., “Determination of a transaction's nexus to the jurisdiction should be based on activity within that jurisdiction, as measured by reference to the activities of at least two parties to the transaction in the local territory and/or by reference to the activities of the acquired

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Stefano Grassani, The Italian Parliament approves liberalization law introducing important changes to the Italian merger control system, 24 March 2012, e-Competitions Bulletin March 2012, Art. N° 47321

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