ITALY MERGER
November 1st, 2003
BY KEITH NUTHALL
THE EUROPEAN Commission has referred the proposed acquisition of Italian tobacco company Ente Tabacchi Italiani by British American Tobacco to the Italian competition authority (AGCM), deciding the deal has no significant effect outside Italy and so "Rome is better placed to evaluate and deal with the competition problems." Brussels had concerns however. Its preliminary findings found it could "create or reinforce a dominant position".
THE EUROPEAN Commission has referred the proposed acquisition of Italian tobacco company Ente Tabacchi Italiani by British American Tobacco to the Italian competition authority (AGCM), deciding the deal has no significant effect outside Italy and so "Rome is better placed to evaluate and deal with the competition problems." Brussels had concerns however. Its preliminary findings found it could "create or reinforce a dominant position".
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