Extends the government’s “golden powers” to block takeovers by non-EU companies to high-technology sectors

The Italian Council of Ministers approved Decree no. 148, extending the government’s so-called "golden powers" to block takeovers by non-EU companies to high-technology sectors (e.g. storage and treatment of data, artificial intelligence, and aerospace technology) that may pose a serious threat to essential national interests or present a risk to public order and national security. The Decree also obliges investors that build up minority stakes of at least 10 per cent in Italian listed companies to disclose what their intentions are on final ownership.

• Type:

  • Entry and establishment (Approval and admission)

• Industry:

  • Not industry specific

• Sources:

  • Reuters & latham law firm alert, UPDATE 1-Italy passes decree to ward off foreign takeovers, https://www.reuters.com/article/italy-ma-decree/update-1-italy-passes-decree-to-ward-off-foreign-takeovers-idUSL8N1MO59I, 13 Oct 2017