On 18 September 2007, the Italian Antitrust Authority (IAA) opened an investigation under Article 82 of the EC Treaty against Ferrovie dello Stato S.p.A. (FS) and its subsidiary Rete Ferroviaria Italiana S.p.A. (RFI). RFI is the railway infrastructure monopolist as it is the sole operator, under State concession, of the railway infrastructure in Italy and it is also entrusted with some regulatory functions. The conducts being investigated by the IAA relate to the access to the railway network by railways undertakings active in the provision of rail freight services (RUs). The Italian rail freight services sector is being gradually liberalized pursuant to the relevant EU directives but, as of today, the supply structure is still characterized by the presence of a leading undertaking,

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