Fininvest has presented an appeal to the EU Court of Justice against the decision taken by the ECB relating to the qualified stake held by the same company in Banca Mediolanum.
“It's the usual problem, that of 9,9% of Mediolanum – explained the lawyer Nicolò Ghedini – We have already been right by the State Council. Then the Bank of Italy insisted referring to the ECB. And so now we are presenting the same appeal to the EU Court of Justice on the ECB".
The case arose three years ago when Bankitalia forced Fininvest to sell the stake exceeding 9,9% in Mediolanum due to the implementation of EU regulations on financial conglomerates and after Silvio Berlusconi, due to his definitive conviction for tax fraud on Mediaset TV rights, had lost the integrity requirements necessary to be a major shareholder in a financial or banking institution.
The former Cavaliere, owner of 30,124% of the institute, had appealed against the provision and the Council of State had decided to accept him.
In December 2015, Via Nazionale reopened the case, while two months earlier the European Central Bank ruled against holding a qualifying stake of Fininvest in Banca Mediolanum
In December 2015, Via Nazionale reopened the case, while two months earlier the European Central Bank ruled out Fininvest's holding a qualifying stake in Banca Mediolanum. After the Eurotower decision, Silvio Berlusconi lost the rights to vote on its shareholding of 20,125%. Hence the decision to apply to the EU Court of Justice.
After the announcement of the appeal, in Piazza Affari, Banca Mediolanum shares gained 3,99% to 7,565 euros.
After the announcement, in Piazza Affari, Banca Mediolanum shares gained 3,99% to 7,565 euros.
