Goodbye to the anti-raiding rule. The government has given up on introducing the maneuver decree the new rules to increase transparency obligations in the case of takeovers of Italian companies. This was reported to the Reuters agency by a parliamentary source, speaking of division between the executive led by Paolo Gentiloni and the parliamentary majority that supports him.
The initiative by the Minister of Economic Development, Carlo Calenda, was triggered after Vivendi, already the first shareholder of Telecom Italia, had begun to rake in shares in the Mediaset television group, of which he now owns 29%.
The objective, as explained by Calenda himself, was to introduce thresholds for share ownership in Italy as well as in France, after which the investor must declare his objectives.
A government source explains that the anti-climbing rule has not been included in the legislative decree because it lacks the requisites of necessity and urgency. But one of the parliamentarians closest to the former premier and secretary of the Democratic Party Matteo Renzi said that the crux is actually political: "It was Renzi himself who opposed it - said the source quoted by Reuters - The law is buried".
