Dear Sirs,

Firstly, my apologies for not being clear about the legal argument behind my belief that any restrictions on the participation of construction companies in the capital of Autostrade is illegal. The most relevant legal text is Article 56 of the Treaty Establishing the European Community. The Treaty povision, which takes precedence over all national laws, prohibits member states from maintaining retrictions on the rights of investors to buy shares in companies other than for national security reason. The European Cout of Justice has recently rules against Italy for its restrictions in the energy sector, it has also recently ruled against Spain and the UK for restrictions those countries had maintained on shareholder when they privatised formerly state owned companies.

For the sake of clarity I would guide readers to the following Euroepan Union weblink: http://ec.europa.eu/internal_market/capital/framework/index_en.htm

Secondly, I would not want any commentator to believe that in making a criticism of Mr Di Pietro's handling of the Autostrada affair I was in any seeking to praise the French, the British or even the Spanish Governments. I can easily point to both the economic and political failings of each of those systems. My point in writing was simply to say that I had hoped for better from a man such as Mr Di Pietro with his legal and political credentials.

One thing is clear from reading many of the comments in this blog - that the concern of many people in Italy is not the correct application of the law or the efficiency and future investment in Italy's motorway network. Their concern is instead about the role of the Benetton family. While I can understand the reaction this has caused it should not deter Italian Ministers from taking the right decision.

I hope this clarification is helpful,

Ben Pope

There is no real justification to blocking the merger.

Saying that construction companies can´t control motorways is specious and incorrect, since Torino-Milano is already owned by a construction company.

It seems that there is some kind of jealousy that the Spanish have done better economically than Italy. The Italian economy is moribund, Italian politics are sclerotic, and have been for the past 40 years.

What has happened since Tangentopoli? Has cronyism been stamped out? Hardly, just look at what mani pulite spawned: Berlusconi.

And after Berlusconi? A feeble coalition of exalted egos. Archaic ministers who can´t see past the end end of their self righteous noses. The Spanish have managed to dig themselves out of the economic disaster they were once in, and have learnt to play the European game. It is strange therefore that a country like Italy, that once advocated a Federal Europe, should not see the benefits of avoiding national protectionism.

All it would take is a pragmatic law setting the rules that will guarantee investments. That´s where Di Pietro´s legal talents would come in handy.

It looks like Italy is incapable of fixing things on its own, so why not give the Spaniards a chance to do it? It looks like they did well enough in their own country.

And anyway, the merger can only benefit Italian motorways, if only because the Benettons will have less power.

Roger Mezzo, London

i dont care about bens...
if autostrade works on roads and the company is sold to someone who make roads, then they will build road only with the sister company, plan and simple,

speak about this, not about your bullishiting knowledge of laws,

this is a right statement, yours is a legal trick, if it is true...

and also if the wsj has the rights to give the news as they want, i dont think of this newspaper as an objective viewer of the people rights, its name alreayd declared his policy

best regards

to Ben Pope | August 11, 2006 01:03 AM:

dear Ben, you must be a close friend of Benetton and Tronchetti, apparently. It's Ok to me, I reccomend you don't change your mind and keep voting for Forza Italia.
Best wishes,
EC

Ben Pope

Your understanding of the Autostrada concession and governance therof is minimal, as is your understanding of both Italian law and European law and the convergence of both. The provision is not illegal under European law as it does not hinder or impede the free movement of capital.

As to investors I would remind you that Bennetton was already 2 billion euros in debt and this merger was simply to soften shareholder nervousness whilst making 670 million euros and still retaining concession rights on all the infrastructure on the autostrada (service stations, food outlets etc).

I would also remind you that the Autostrada concession is a Monopoly Concession on an assett that is State owned i.e by the Italian people. There is no competition. There is no open market. It is a concession to operate on a State owned infrastructrure which can be taken away if conditions are not met.

As to your diatribe on conduct it doesn't warrant commenting on, but perhaps you might want look at your own parliament in the UK or the French government's handling of power ownership. Even some recent anti trusts cases in the US might be helpful for you.

It might also help all of us if, when making accusation and statements on law, you might also grace us with names and complete legislative evidence to back up what you say.

Robert Tuppini - an Australian in Rome

I was very disappointed to see how you have handled the Autostrade case and your latest response to the Breaking Views article. I had hoped as a leader of the clean hands movement (for which I had high hopes some years ago), you would be interested in the fair and even application of the law, both Italian AND European law.
Firstly, you have been uneven in your treatment of Albertis/Autostrade, having chosen to ignore the fact that companies with construction interests are already participating in Italian motorway companies.
Secondly, you have chosen to hide behind this Italian law concerning construction companies particpating in motorway concession holders, knowing that this provision is illegal under European law, which prohibits such restrictions on the free movement of capital. As a Member of the European Parliament your disregard for European law is a disgrace.
Lastly, the manner in which you have prosecuted your views about the merger through the media is highly unprofessional and falls short of the standards of ministerial behaviour of any European Government. Your behaviour also risks creating uncertainty for investors. You should not therefore be surprised when journalists such as those at Breaking Views call your behaviour into question.
As the leader of a political party that seeks to promote new and better values in politics, your most urgent task should be to consider your own recent conduct as a Minister of the Italian Government.
Yours sincerely,
Ben Pope, London