New Italian rules on stakebuilding

The Italian Council of Ministers has approved law decree No. 148/2017, providing for specific disclosure requirements on stakebuilding in Italian listed companies, with the aim of strengthening defenses against hostile takeovers.  In particular,  in addition to the ordinary disclosure requirements, investors building up stakes above certain thresholds must provide the Italian Securities Commission (CONSOB) and the target listed company with further details to clarify, inter alia, their goals in the next 6 months.

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