The Italian Competition Authority cleared with remedies a merger in the tobacco sector (British American Tobacco / Ente Tabacchi Italiani)

The operation The operation is the last step of the privatisation process concerning the activities of Italian State in the tobacco industry. The transaction follows a call for tenders launched by the Ministry of the Economy and Finance in 2003 and won by BAT. Therefore, as a result of the merger, ETI will be privatised and will come under the sole control of BAT. The Authority considers that the merger would create a collective dominant position between BAT/ETI and Philip Morris on the Italian cigarette market, already highly concentrated. The Authority notes that the combined market shares of the first two operators, Philip Morris and ETI are approximately of 80%, whilst BAT, the most dynamic operator, holds a market share in a range of 5-10% (confidential information). In

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Eleonora Granata, Alessandra Prastaro, The Italian Competition Authority cleared with remedies a merger in the tobacco sector (British American Tobacco / Ente Tabacchi Italiani), 17 décembre 2003, e-Competitions December 2003, Art. N° 20803

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