April 5, 2017 / 1:37 PM / 10 months ago

Italy to require disclosure when stakes in firms rise above 10 pct - draft

ROME, April 5 (Reuters) - An Italian government measure aimed at defending companies from hostile takeovers will require disclosure when an investor takes a 10-percent stake in any listed company, according to a draft of the bill.

The measure would require investors who take stakes of more than 10, 20 or 25 percent in listed companies to write a letter of intent describing their objectives for the next six months, according to a draft seen by Reuters.

It has still not been decided whether the measure will be inserted into a larger competition bill, or whether it will be passed separately, Industry Minister Carlo Calenda told reporters.

Reporting by Giuseppe Fonte, writing by Steve Scherer

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below