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Tim, Cassese: golden power can't fire

Vivendi defends itself and brings together two legal celebrities such as Sabino Cassese (former councilor of the Constitutional Court) and Andrea Zoppini (full professor at Roma Tre) to support his reasons against the government's threat to use golden power, i.e. special rights veto on strategic choices, on Tim (the new name of Telecom Italia).

In a pro-veritate opinion, prepared for Tim, Cassese and Zoppini argue that there are no conditions for the Government to resort to golden power as there has been no change of ownership in the telephone company and Vivendi's announcement to exercise functions management in Tim is to be considered only an act of governance and not an admission of control, which would involve, inter alia, the consolidation of Tim's debts owed to Vivendi.

Now the word passes to the Government which is about to complete the investigation into the case and which will pronounce itself towards mid-September.

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