also dwells on the appraisal of rescue banking mergers. Arguably, these merger fall within Article 20(5 bis) of the Italian … Competition Act that codifies a failing firm defence, by giving the Bank of Italy the power to clear an anticompetitive mergers on …, which occurs when a merger is necessary to preserve financial stability. This position is consistent with the thinking of …

Italy, detailing the national rules implementing the 2005 Cross-Border Mergers Directive and highlighting the main legal … in favor of the merger. The chapter provides a critical assessment of this remedy, discussing how cross-border mergers …

Italy the power to clear an anticompetitive merger on stability grounds. The banking regulator should invoke Article 20(5bis …) only in exceptional cases meeting a systemic standard, which occurs when a merger is necessary to preserve financial …