Italian Berlusconi firm to pay 750 mln euro payment over corruption

Berlusconi was jointly responsible for corruption by his Fininvest company, judge said.

Italian Berlusconi firm to pay 750 mln euro payment over corruption

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.
Berlusconi was jointly responsible for corruption by his Fininvest company in a 1990s battle to buy publisher Mondadori, a judge said in arguments for imposing damages on the firm, according to the court document explaining the decision which Reuters obtained on Monday.

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 behavior" of Fininvest.


Agencies

Last Mod: 05 Ekim 2009, 15:43
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