Hands off, say Italians.
Rome, March 23 – The Italian government on Wednesdaymoved to protect companies considered of strategic importanceafter French dairy giant Lactalis took a controlling stake inParmalat.
The decree approved by a cabinet meeting contains “measuresto defend Italian firms against foreign takeovers instrategically relevant sectors,” government sources said.
According to media reports, the sectors are food, defence,technology, telecommunications and energy.
As well as Parmalat, Italy’s biggest dairy company, thegovernment is concerned about French energy giant EDF’s partialtakeover of Italian energy company Edison and the Frenchinsurance giant Groupama’s interest in the largefinance-to-construction group Ligresti.