Press Release of the Italian Competition (Antitrust):
The Competition Authority and the Market in the meeting yesterday, July 27, 2005, resolved to go ahead with the operation concentration resulting from the sale by Enel of 62.75% of Wind to Weather Investments II. Authority for the operation, which involves the acquisition of joint control of Wind, does not produce significant effects on the markets concerned. Based on the analysis of the Authority, it does not determine the constitution or strengthening of a dominant position, able to eliminate or substantially reduce competition or durable. The measure, the Authority sought the opinion, favorable to the Communications Authority. On completion of the transaction the share capital of Wind will be held for the 37.67% owned by Enel SpA and the remaining 62.33%, through special purpose vehicles, by Weather Investments Ltd (owned by 94.8% by Weather Investments II and 5.2% by Enel SpA).
For details please have a look to the article by Portel. For details please have a look to the article by Portel. Must see if this will have a positive outcome or not, we hope that the Weather Investments will invest (excuse the pun), especially in improving the service when it has fully acquired the Italian provider.
Let's hope so!
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