The Council of State has suspended the execution of the sentence of the TAR which confirmed the obligation to sell the Fininvest stake in Mediolanum exceeding 9,9% (ie about 20%) imposed by the Bank of Italy.
Accepting the request for suspension made by the lawyers of Silvio Berlusconi (Andrea Di Porto, Andrea Saccucci and Luigi Medugno), Palazzo Spada, according to what Radiocor anticipated, also suspended the provision adopted by Bank of Italy on 6 November which required Fininvest to transfer 20% to a trust within 30 days, i.e. by 6 December.
The first decision by Palazzo Koch imposing the sale dates back to 7 October last year, after the registration of Mediolanum among the banking groups and the loss of the honourability requirements by the former Prime Minister due to the conviction for fraud tax. The Bank of Italy had then granted 30 months (starting from last January) to sell the shares. The suspension decided in the sentence by the Council of State will last until the hearing on the merits set for 14 January.
