The Italian Antitrust Authority said Tuesday that it has authorized Italgas Spa's acquisition of 2i Rete Gas for a merger of Italy's two largest gas distributors "subject to conditions".
    "The transaction...

may well have led to competitive concerns with respect to future area-based tenders for the identification of gas distribution concession holders in 65 Italian minimum territorial areas (so-called ATEMs)," the competition watchdog said.
    "The Authority authorised the transaction subject to compliance with divestiture and behavioural measures.
    "In particular, in 31 ATEMs, Italgas is required to divest a share of at least 20% of the gas redelivery points it manages based on existing concessions.
    "In other 4 ATEMs, it will need to sell a share equivalent to that acquired.
    "Such transfers, which must follow specific procedures and the timeline set forth in the final decision, will be made under the supervision of a monitoring trustee approved by the authority".
   
   

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