In Pescara Distribuzione Gas [1] the Italian Competition Authority (ICA) has found Acea, Mediterranea Energia (ME) and Alma CIS (Alma) guilty of gun-jumping for late merger control notification. They violated Article 16(1) of the Law no. 287/1990 whereby mergers exceeding the statutory dimensional thresholds have to be pre- notified to the ICA. Article 19(2) of the Law no. 287/1990 empowers the ICA to impose on infringer fine up to 1% of its revenue in the financial year before the violation. The facts of the case All the merging parties are utility companies active, amongst other things, in the market for distribution of natural gas. The target of the merger, the target Pescara Distribuzione Gas (PDG) was previously jointly owned by Alma and ME. Pursuant to the merger agreement
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The Italian Competition Authority fines three energy companies for late merger notification (Acea / Mediterranea Energia / Alma)
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