Sommario: 

1. Premessa. 

2. Le partecipazioni societarie «non strettamente necessarie». 

3. L’avvio della procedura di dismissione. 

4. I termini di svolgimento della procedura di cessione delle partecipazioni non consentite: problemi aperti.

5. L’iter della procedura di dismissione in caso di società non quotate. 

5.1. La stima del valore da cedere. 

5.2. La definizione di una corretta procedura di cessione. 

6. I possibili temperamenti del principio dell’evidenza pubblica in caso di partecipazioni di non rilevante valore economico.

Abstract: 

Act n. 244/2007 (Public Finance Law for fiscal year 2008), article 3, provides for the divestment of “not essential” shareholdings owned by public local authorities in private local companies. Such a rule is intended both to reduce public expenditure and to extend the scope for market entry in activities where direct public investment cannot be justified anymore. Indeed, the range for public partnership in private companies or for full public ownership is limited to those shareholdings essential to the extend to guarantee the performance of institutional tasks. The article focuses on the complex legal and economic questions arising from the definition of an adequate procedure for the divestment of “not essential” public shareholdings. Particular attention is given to the scope of applicability of the standard rules for public procurement.