milan (reuters) – the growing influence of vivendi in telecom italia doesn’t break the rules in order to protect the strategic enterprises in italy, according to a document of legal to telecom italia (tim) to the italian government.
the government wants to know if vivendi), which was accepted on july 27, “coordination and management” in tim, has de facto control of the telecom operator as a national enterprise, strategic, and if the conditions for the exercise of his special powers are respected.
and if vivendi is indeed such a control, rome is also to determine whether the french media failed to report as it should be.
vivendi believes that it has “no control” in telecom italia, and in the document submitted to the government, written at the request of tim, two legal experts believe that the role of vivendi in tim’s on to management and does not imply any change in the round table and the control of the company.
“the decisions taken (…) are not requiring any notification of events and are not likely to trigger the use of the veto”, says the report, dated august 6, reuters noted on friday.
these investigations are in a time when so much bad blood between paris and rome on the subject of the saint nazaire shipyards (stx), in which the italian construction group to take a controlling interest in an agreement that has been condemned by the french government from the last presidential election.
in an interview published on friday by the daily newspaper la repubblica, industry minister carlo calenda stated that the idea of using the right of veto to protect tim has nothing to do with the stx.
carlo calendar says he will propose new rules, not retroactive, that any company that crosses the threshold of 5% or 10% of the capital of a company in italy to clarify its intentions.
(giselda vagnoni and stephen jewkes, wilfrid exbrayat for service in french, edited by cyril altmeyer)
copyright & copy;, thomson reuters
Translated by forexguides.info Team