ROME, April 5 An Italian government measure aimed at defending companies from hostile takeovers will be presented as a government amendment to a broader bill on competition policy, a senator from the ruling Democratic Party said on Wednesday.
The government is expected to put the bill to a confidence vote but not date has yet been set, Salvatore Tomaselli told Reuters.
The measure envisages that, to increase transparency, once investors have increased their stake above certain thresholds, they may be forced to state their final objectives.
The government initiative follows aggressive stakebuilding by French media group Vivendi, which has sharply increased its holding in Italian broadcaster Mediaset.
(Reporting by Massimiliano Di Giorgio, writing by Gavin Jones)
BRIEF-General Atlantic LLC reports 5.9 pct stake in 58.com
* General Atlantic LLC Reports 5.9 Pct Stake In 58.Com Inc as of June 13 Source text: (http://bit.ly/2tDZLyS) Further company coverage:
BRIEF-IAC/Interactive says it has determined not to pursue co's previously announced plan to create a new class of non-voting stock
* Says it has determined not to pursue co's previously announced plan to create a new class of non-voting stock