Having suspended the sentence, the Italian court has set July 24 as the next date of the hearing wherein it will pronounce the reasons for its judgment.
In a significant development, an Italian court has suspended the $88 million (74.3 million euro) that was imposed on Telecom Italia for failing to notify the government that Vivendi its main shareholder had effective control of Telecom Italia.
Vivendi, Telecom Italia’s largest shareholder with a stake of 24%, has repeatedly denied controlling Italy’s biggest phone group.
The Italian court has set July 4 as the next date of hearing wherein it will pronounce the reasons for its decision.
In September 2017, Italian prosecutors began investigating into Vivendi’s failure to communicate to the prime minister’s office that it had a de facto control over Telecom Italia.