Press Release: Free movement of capital: Commission calls on Italy to apply Court of Justice ruling on special powers in privatised companies

The European Commission has decided to remind Italy of its obligation to comply with a Court of Justice ruling of 26 March 2009. This ruling found that by virtue of the legislation that lays down the criteria for the exercise of special powers in privatised companies referred to in Article 2 of decree-law 332/1994 operating, among others, in the telecommunications and energy sectors, Italy had failed to fulfil its obligations under EC Treaty rules on the free movement of capital (Article 56) and the right of establishment (Article 43). The request for information on Italy’s compliance with the Court ruling took the form of a ‘letter of formal notice’ under EC Treaty infringement procedures related to compliance with Court of Justice rulings (Article 228).