Italians risk EU ire over toll-road deal

The European Commission is on course for a clash with the Italian government over Rome’s attempts to block the proposed acquisition of Autostrade, the firm operating most of Italy’s motorways, by its Spanish counterpart Albertis.

The dispute carries echoes of the Commission’s disagreement with the Spanish government over its attempts to set conditions on E.ON’s takeover of Endesa (see page 25).

The Commission is investigating the €18 billion Autostrade-Albertis deal, which would create the world’s largest toll-road operator, to see whether it raises competition concerns. An initial deadline of 22 September has been set for the Commission to approve the merger or to embark on an in-depth investigation.

But the Italian government attempted to block the deal at the beginning of August. Tommaso Padoa-Schioppa, Italy’s minister for the economy, signed a letter announcing the decision along with Antonio di Pietro, the infrastructure minister, describing the regulator’s conclusions as "definitive". Prime Minister Romano Prodi also publicly criticised the deal.

The Commission is now looking at whether Rome’s objections conflict with the Commission’s exclusive competence on mergers falling under the EU’s merger regulation, whether they are justified on some other grounds and whether they are proportionate.

If not,the Commission could send a statement of objections and launch legal action.

The European Commission is on course for a clash with the Italian government over Rome’s attempts to block the proposed acquisition of Autostrade, the firm operating most of Italy’s motorways, by its Spanish counterpart Albertis.