Italy antitrust head opposes sales limit for Mediaset |
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Mon, 29 Jan 2007 09:15
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MILAN (AFX) - Antonio Catricala, president of Italy's antitrust authority, said he opposes government plans to impose harsher competition rules that would put a cap on Mediaset SpA's revenues, the daily Il Corriere della Sera reported.The Italian government has presented in parliament a draft legislation that includes a cap of 45 pct on the market share that can be held in the TV advertising market by one company.Speaking during a television interview yesterday, Catricala said 'one can't put a limit on Mediaset's revenues, because one can't stop a company from growing.'He also said it would be preferable to wait until after 2009 to approve any legislation forcing Eni SpA to sell its 50 pct stake in the gas transport company Snam Rete Gas SpA.Last week, the cabinet did not approve a proposal by deputy prime minister Francesco Rutelli to compel Eni to sell down its stake in Snam RG.The sale would weaken the two companies' hand in negotiating gas contracts with foreign suppliers, Catricala said.He added that he would not want to see recent gas deals signed by Eni with Russia's Gazprom and Algeria's Sonotrach 'not being honoured.'He also warned about the state taking over Snam RG, if it were sold.Over the weekend, the daily Finanza & Mercati said the state-controlled investment company Cassa Depositi e Prestiti SpA could sell its 10.2 pct stake in Enel SpA to fund the acquisition of at least 50 pct of Snam RG.philip.webster@thomson.compw/twCOPYRIGHTCopyright AFX News Limited 2006. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
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