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Tim: Cassation rejects Consob appeal, Vivendi has no de facto control

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Tim: Cassation rejects Consob appeal, Vivendi has no de facto control

The Court of Cassation in joint sections rejected the Consob appeal and confirmed that Vivendi, Tim’s leading shareholder with about 24%, does not have de facto control over the group led by Pietro Labriola. Consob, at the end of a long legal battle, had appealed against the decision of the Council of State which had annulled, upon appeal by Tim and Vivendi, the resolution of the Commission which qualified Vivendi’s shareholding in Telecom Italia in terms of control …

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