Benedetti, Lorusso, Benedetti, Studio Legale recently assisted Omi, a Spanish software supplier and consultancy, with the creation of its Italian business. Milan-based Alessandro Benedetti is recommended, and Nicolino Gentile was appointed junior partner. Rome-based Mario Benedetti is the administrative law contact.
Milan and Rome practice Colonnelli de Gasperis Studio Legale provides ‘high-quality, responsive legal work’. The team acted for La Française during the purchase of 40% of Tages Capital. Mattia Colonnelli de Gasperis is ‘an accomplished and imaginative business lawyer’.
De Matteis, Studio Legale focuses on the emerging banking law sector of mobile and electronic payments. The team represented MasterCard and its subsidiaries during an investigation launched by the Italian Competition Authority into domestic interchange fees. Founding partner Andrea De Matteis in Rome is highly rated.
Italy Legal Focus – Studio Legale Bernascone & Soci is ‘excellent in all aspects’, particularly for corporate and banking law, litigation, and life sciences. The team assisted Medtronic with its minority investment in an Italian hospital solutions business. Milan-based Gabriele Bernascone is ‘very proactive’.
Milan legal practice Jenny Avvocati is ‘a very experienced and reliable firm that has a good sense for the requirements of cross-border transactions’. The practice stands out for its strong base of German-speaking clients doing business in Italy. The banking and finance department, headed by ‘exceptionally strong lawyer’ Andrea Polizzi, focuses on the retail banking sector. Its experience includes the distribution of financial and banking products and the organisation and sale of non-performing consumer loan portfolios. The firm’s M&A practice, headed by Christoph Jenny and Gianmarco Mileni Munari, spans the energy, manufacturing and logistics sectors. Munari is ‘excellent for the project management of deals’. The team acted for the management team of Italian chemicals company, Italmatch, in the sale of its business to Ardian (formerly known as AXA Private Equity). Since publication Gianmarco Mileni Munari has left the firm.
Basic facts about the department
- 4 partners
- 25 other qualified lawyers
- 4 partners
- 25 other qualified lawyers
What the team is known for Pioneers in the Italian competition market with expertise in cartels, abuse of dominance, merger control, and public and private enforcement. Regularly represents clients before the Italian Competition Authority, administrative courts, EU Commission and European Court of Justice. Acts for major national and global players in the telecommunications, energy, healthcare, technology and transport sectors.
Strengths (Quotes mainly from clients)
"The team never leaves a stone unturned, but gets into the details of a subject. It provides rapid and extremely in-depth analysis, and can handle a variety of industry sectors."
"The lawyers are highly attentive to the client's suggestions and always focus on the business' needs and reasoning."
What's new? Matteo Beretta was promoted to partner.
Work highlights Representing Telecom Italia in an appeal against the Italian Competition Authority's fine for abuse of dominant position, and defending the company against actions for damages brought by competitors in follow-on proceedings.
Acting as counsel to F. Hoffmann-La Roche on the investigation opened by the Italian Competition Authority concerning the pharmaceutical company's alleged anti-competitive agreement with Novartis.
Notable practitioners
Sources universally describe Mario Siragusa as "one of the stars of Italian competition law." He has long-standing experience in Italian and EU law competition matters, which enable him to lead an international team. Clients appreciate his commerciality, stating: "He has been involved in every business and understands every industry, allowing him to get to the heart of the issue, communicate and channel messages in a very simple and efficient way."
Key partner Marco D'Ostuni is known for his detailed technical legal knowledge and expertise in the telecommunications sector. Clients highlight how "he provides legal solutions that are extremely intelligent, innovative and unique."
Counsel Cesare Rizza is known for his work on abuse of dominance cases and investigations, and is considered by peers to "maintain a high intellectual level in legal arguments."
Recently made partner Matteo Beretta is considered an expert on merger control. Clients say: "He understands the business needs, and is highly flexible and supportive."
Counsel Pietro Merlino is highly trusted by clients for his legal and regulatory knowledge. "He worked at the centre of the operation and developed the ideas and strategy," said one interviewee.
The third largest economy of the Eurozone, Italy is experiencing cautious optimism regarding its growing market activity. GDP is projected to return to growth in 2015 and further increase is expected in 2016, a result of accelerating foreign direct investment (FDI), labour reforms and the introduction of private enterprise and competition friendly policies. A broader range of new players are appearing on the market, particularly in the form of US and Asian funds.
One of the most noteworthy of the recent flood of non-European bids is ChemChina's EUR7.1 billion buy-in to tyre maker, Pirelli. On the other hand, austerity resulted in higher taxes, adding to the pricey system of compliance and the continued practice of tax evasion, all of which hinder investor enthusiasm. High public and government debt also impacts economic growth.
The most important change in the legal system impacting the market is the controversial new labour reform, which comes after thirty years of regulatory stagnation. The Jobs Act introduced a number of changes aiming at easing hiring practices through incentives and by making dismissals less complicated and less costly. The reform also impacts a number of labour law institutions and tools, such as unemployment insurance, redundancy funds and mobility indemnities.
Although the Eurozone as a whole is losing ground in the global capital markets competition, Italy is seeing activity on the equity and debt markets, where existing liquidity is encouraging the issuance of both publicly listed and privately placed bonds. Accelerated interest from foreign investors and pension funds demonstrates the continued rise of confidence in the Italian banking sector, while recognising its inherent weakness resulting from the close relationship with the domestic corporate sector.
One of the best-developed solar-power industries, Italy is also experiencing growth in wind, geothermal and hydro-power generation. Some of the main challenges for the Italian economy for the coming months lie in addressing infrastructure bottlenecks and the efficiency of its tax, public administration and justice systems.
The Italian legal market continues to be dominated by the long-established domestic firms such as Bonelli Erede Pappalardo, Chiomenti Studio Legale and Gianni, Origoni, Grippo, Cappelli & Partners. Italy furthermore has all the full-service international firms present, such as Clifford Chance, DLA Piper and Latham & Watkins, who are particularly strong in the corporate and finance sectors. In addition, there are a large number of specialist domestic boutiques, focusing on one or two specific practice areas, such as employment and intellectual property.
