ROME Feb 24 Italy will include disclosure
obligations for company takeovers in a draft competition law
currently being examined by parliament, Industry Minister Carlo
Calenda said on Friday.
Calenda said the rule would apply to any bids to buy 5
percent or more of a listed company, and would be based on those
currently in place in France and the United States.
"It will mean that when you buy 5 percent in a listed
company, you have to say why you are doing it," he said at a
forum in Rome, adding he hoped the new law would be approved by
Rome is concerned about the vulnerability of its companies
to foreign takeovers, but Calenda said the new rules were not
aimed specifically at recent stake-building in broadcaster
Mediaset by French tycoon Vincent Bollore's group Vivendi.
"We should not make an anti-Bollore rule," he said.
(Reporting by Isla Binnie, editing by Steve Scherer)