<\/p>\n
FILE PHOTO: The Telecom Italy logo is seen at the headquaters downtown Milan, Italy, March 10, 2016. REUTERS\/Stefano Rellandini\/File Photo<\/p>\n
MILAN (Reuters) – An Italian court confirmed on Thursday the suspension of a 74.3-million-euro (65.6 million pounds) fine imposed on Telecom Italia for failing to notify the government its main shareholder Vivendi had effective control.<\/p>\n
The Rome-based administrative court had already suspended the fine in June. It will hold a new hearing on the issue on May 8, 2019, according to a copy of the court ruling.<\/p>\n
In September, Rome began to look into the failure by the French media group, which is TIM’s biggest shareholder with a 24-percent stake, to communicate to the prime minister’s office that it had de facto control over the former state monopoly.<\/p>\n
After months of friction between Vivendi and the Italian government, Rome in October applied the so-called “golden power”, allowing the government to veto strategic decisions such as asset sales and mergers at businesses deemed to be of strategic national importance.<\/p>\n
Reporting by Domenico Lusi, writing Giulia Segreti, editing by Steve Scherer<\/p>\n
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