While the Prime Minister, Giuseppe Conte, was on his way to Canada for the G7, the Council of Ministers - chaired by the Deputy Prime Minister, Matteo Salvini - decided to exercise golden power over Retelit. In this affair, the new prime minister operates in conflict of interest, since until a few days ago he operated as legal advisor to the financier Raffaele Mincione.
In detail, the executive has established to "exercise the special powers with reference to the change in Retelit's governance deriving from the shareholders' meeting of 27 April 2018, through the imposition of prescriptions and conditions aimed at safeguarding the strategic activities of the company in the communications sector".
The new board of directors of the TLC group was appointed at the meeting held on April 27, with the confirmation of the previous leaders: the list that won the majority of votes, beating Fiber 4.0 (consortium led by financier Raffaele Mincione), was supported by the Libyans by Bousval (Lybian Post Telecommunications) and by the Germans of Axxion, under the coordination of Shareholder Value Management (Svm).
As reconstructed by the Radiocor agency, Prime Minister Giuseppe Conte, less than a month ago (last May 14), in the exercise of his profession as a lawyer, had formulated an opinion for Fiber 4.0 on the assumption of control of the Libyans in the meeting of 27 April and on the possible violation of the obligations established in the matter of golden power.
The conclusion? At least on the date of the meeting, the Libyans should have notified, as required by the golden power discipline, the assumption of control of Retelit since the latter holds strategic assets. For this reason, again according to Conte, the shareholders' resolution and the subsequent resolutions of the newly elected board of directors are to be considered void.
Retelit stock on the Stock Exchange plummets by 4,2%, to 1,585 euro.
