The Finance Commission in Parliament, second commission due to discuss the draft of the law regarding the 5% threshold in SIFs has rejected it yesterday, after previously the legal commission gave green light to the same project. However, both commissions have only consultative powers. Therefore, the next steps to be taken regard the debate in Senate regarding this 5% law. In case the senators will pass favorably vote the law, it will be passed to Deputies Chamber, which is the decision-maker entity.
Our view: We foresee 50%-50% chances to be approved or rejected at the moment, though a favorable vote would determine positive reaction in the market.