Se la rete telefonica diventa asset militare

This paper outlines the last implementing decree of the new Italian golden share which includes the telephone network among the military assets. This provision will have strong relapses on the acquisition of Telecom Italia by Telefónica, because makes it difficult for a private investor to purchase a strategic asset. For this reason, this legislation could be in contrast with the free movement of capital (art. 63 TFEU). This paper tries to envisage what kind of reasons the Italian government could adduce to justify the decree, in case of infringment procedure.