April 5, 2017 / 9:32 AM / 10 months ago

Italy accelerates plan for anti-hostile takeover measure

ROME, April 5 (Reuters) - 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

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