Press Release: Mergers: Commission opens in-depth investigation into proposed merger between Italian transport companies CIN and Tirrenia

The European Commission has opened an in-depth investigation under the EU Merger Regulation into the planned acquisition of joint control over a branch of the Italian state-owned ferry group Tirrenia by Compagnia Italiana di Navigazione ("CIN") of Italy.

The Commission’s initial market investigation indicated serious competition concerns, in particular because the parties to the merger have very high, if not monopolistic, combined market shares on a number of maritime routes in Italy, and in particular on certain routes to and from Sardinia. The decision to open an in-depth inquiry does not prejudge the final result of the investigation. The Commission now has 90 working days, until 4 June 2012, to take a final decision on whether the proposed transaction would reduce effective competition in the European Economic Area (EEA).