The Council of State canceled the Consob resolution of September 2013 with which the Commission had ordered the increase in the price of the takeover bid - from 0,80 to 0,83 euro per share - launched by Lauro 61 on Camfin. In the last instance of administrative proceedings, the sentence reads, the Board accepts the appeals presented, among others, by Marco Tronchetti Provera Spa, defining the reconstruction brought about by Consob as "unacceptable". to revise the price on the basis of an alleged collusion between the bidder and the seller Malacalza. A collusion which, according to the Commission, was aimed at making Malacalza sell a package of Camfin shares to Lauro 61 at a lower price than the fair one and in exchange buy Pirelli shares, from Allianz-Fondiaria, at a lower price to that of the market.
"During the proceeding and this administrative judgment - writes the Council of State - no evidence of participation in the fraudulent arrangement has emerged in circumvention of the rule on the takeover bid price of Allianz and Fonsai, or of the companies which, with the sale of their Pirelli shares to Malacalza, would have contributed to the alleged collusion between Malacalza and Lauro 61″.
