Share

Senate rejects takeover bid reform: it will not apply to Telecom-Telefonica

The amendment to the Salva-Roma decree provided for a takeover bid for anyone who acquires control of a company with a shareholding that gives voting rights in excess of 15% of the ordinary share capital - According to the Budget Commission of Palazzo Madama, the proposal is rejected due to unrelated matter – The reform would have had effects on the Telecom-Telefonica case

Senate rejects takeover bid reform: it will not apply to Telecom-Telefonica

Stop the takeover bid reform. The amendment to the Salva-Roma decree law, which provided for the obligation to make a public purchase offer also for anyone who acquires de facto control of a company if the shareholding acquired gives voting rights of less than 30% of the ordinary share capital, provided that it exceeds 15%.

The proposal, first signed by the Pd parliamentarian and former Corriere della Sera journalist Massimo Mucchetti, was declared unthinkable by the Senate budget commission due to non-involvement in the matter.
The takeover bid reform has been traveling through the parliamentary halls for 3 months. Now, with this stop, it cannot have any effect on the Telecom-Telephone operation.

comments