Section 16(1) of Law no. 287 of 10 October 1990 requires prior notification of all mergers and acquisitions involving undertakings whose aggregate turnover in Italy exceeds EUR448 million (revised under the terms of the same Section 16(1)), or when the aggregate turnover in Italy of the undertaking to be acquired exceeds EUR45 million (as revised).
Thresholds are adjusted every year to take account of increases in the GDP deflator index, and the resolution is published in the Authority’s Bulletin after the increase in the index has been officially announced (as to the thresholds in force, see the Authority’s resolution No.18205, published in the Bulletin No. 12 of 5 May 2008, in Italian).
Section 13(1) of Law no. 153 of 1 March 1994 also requires prior notification of any merger or acquisition as a result of which, in any one of the 12 main towns within film distribution zones (Rome, Milan, Turin, Genoa, Padua, Bologna, Florence, Naples, Bari, Catania, Cagliari and Ancona), an undertaking would hold, directly or indirectly, a market share larger than 25 per cent of the turnover from film distribution and, simultaneously, more than 25 per cent of the operating movie.