MILAN (Reuters) – An Italian court docket confirmed on Thursday the suspension of a 74.Three-million-euro ($87 million) positive imposed on Telecom Italia for failing to inform the federal government its important shareholder Vivendi had efficient management.
The Rome-based administrative court docket had already suspended the positive in June. It can maintain a brand new listening to on the problem on Might eight, 2019, in keeping with a replica of the court docket ruling.
In September, Rome started to look into the failure by the French media group, which is TIM’s greatest shareholder with a 24-percent stake, to speak to the prime minister’s workplace that it had de facto management over the previous state monopoly.
After months of friction between Vivendi and the Italian authorities, Rome in October utilized the so-called “golden energy”, permitting the federal government to veto strategic choices resembling asset gross sales and mergers at companies deemed to be of strategic nationwide significance.
Reporting by Domenico Lusi, writing Giulia Segreti, enhancing by Steve Scherer