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Italian to English translations [PRO] Finance (general)
Italian term or phrase:assunzione di partecipazioni
Hello,
how is assunzione di partecipazioni translated below? Assumption of shares/purchase/acquisition of shares?
Thanks in advance
l’esercizio nei confronti del pubblico delle attività di assunzione di partecipazioni
exercise vis-a-vis the public of XXx
Explanation: partecipazione is used to cover the distinction between azioni and quota, but they can both be translated as shares.
It might be worth saying "trading in shares" because it will be certain that the service offered includes the sale of shares as well as their purchase for the general public.
Here we have participazione used in relation to a specific law, but I often see it used in this sense normally like becoming a "member of a company"
Can you think of a better word? A) Exists in any case over 10% (traders seldom take that much) B) "legame per lo sviluppo del participante". It means you are not just trading but you go to shareholders' meetings and vote "gestione dei diritti". The term is also used where shares are held to seal an operating alliance of some sort and especially if the shareholder is represented on the board. Strictly speaking "partecipazione" is sharing in the profits, but it generally meanings participation in management. Very often it is used to mean subsidiaries and you have to go searching to find the size of the stake held (over 50% means translate as subsidiary - 20-30% translate as associate - less than 20% but greater than 5% help!). A typical example in the news recently is a Saudi Prince who has recently taken a $300 million stake in twitter. The financial times describes it as a "significant stake". It is 3% but came after months of "talks". In Italian this would immediately be perceived as a "participazione", rather than "azione
Once again, please paste in more of the original Italian text, or are you working from paper or something? This is highly technical.
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Answers
2 mins confidence:
acquisition of shares
Explanation: partecipazione is used to cover the distinction between azioni and quota, but they can both be translated as shares.
It might be worth saying "trading in shares" because it will be certain that the service offered includes the sale of shares as well as their purchase for the general public.
Thomas Roberts Works in field Native speaker of: English, Italian PRO pts in category: 488
Explanation: This would seem to be a direct reference to D.M. 6 luglio 1994 - see link and extract below. It has a highly specific meaning in Italian law, without any direct equivalent in other countries. While it is highy specific, assunzione, however means acquisition, although it is understood that they may be sold, but not necessarily to the general public (it is the merchant banking service which is offered to the general public). It means the acquisition of at least ten percent of the ownership capital (shares, stock, capital with 10% voting rights) of a company for strategic purposes, in order to influence the management of the company and not merely for trading an a "dealer's margin". Consequently a mere "shares" is too broad here.
The reference to the "public" is in practice a reference to merchant banking where the public are mainly companies in general who are offered a service.
D.M. 6 luglio 1994.
Determinazione, ai sensi dell'art. 106, comma 4, del decreto legislativo 1° settembre 1993, n. 385, del contenuto delle attività indicate nello stesso art. 106, comma 1, nonché in quali circostanze ricorre l'esercizio delle suddette attività nei confronti del pubblico.
6. Attività di assunzione di partecipazioni.
1. Per assunzione di partecipazioni si intende l'attività di acquisizione, detenzione e gestione dei diritti, rappresentati o meno da titoli, sul capitale di altre imprese.
2. L'assunzione di partecipazioni realizza una situazione di legame con le imprese partecipate per lo sviluppo dell'attività del partecipante; in tale attività è da ricomprendersi altresì l'impiego in partecipazioni a titolo di investimento di portafoglio. Si ha in ogni caso partecipazione quando il partecipante sia titolare di almeno un decimo dei diritti di voto esercitabili nell'assemblea ordinaria.
3. Per aversi operatività nei confronti del pubblico, oltre alle condizioni previste dall'art. 5, comma 1, è necessario che le assunzioni di partecipazioni siano finalizzate all'alienazione e, per il periodo di detenzione, siano caratterizzate da interventi volti alla riorganizzazione aziendale o allo sviluppo produttivo o al soddisfacimento delle esigenze finanziarie delle imprese partecipate anche tramite il reperimento del capitale di rischio.
James (Jim) Davis Italy Local time: 12:02 Specializes in field Native speaker of: English PRO pts in category: 2863
The translation workplace 
