Berlusconi`s Fininvest hit with 750 mln euro payment
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Last Updated: Monday, October 05, 2009, 10:29
Rome: The Italian company Fininvest, which is controlled by Prime Minister Silvio Berlusconi, has been sentenced to pay 750 million euros to its rival media group CIR in a long-running legal dispute, the ANSA news agency reported.

Milan's civil court ruled that the CIR holding company of Carlo De Benedetti was entitled to 749.995 million euros (1.093 billion dollars) in compensation for Fininvest destroying the value of its stake in Mondadori, Italy's leading publishing house.

Marina Berlusconi, the head of Fininvest and the daughter of the prime minister, announced the company would appeal the court decision.

The case dates from 1990, when Fininvest, then headed by the prime minister, wrestled control of Mondadori from De Benedetti.

De Benedetti welcomed the court's ruling, saying "it established in an irrevocable fashion the illegal behaviour" of Fininvest

Bureau Report

First Published: Monday, October 05, 2009, 10:29

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