fininvest
the manes, trademarks and logos on the site are the property of fininvest and / or companies belonging to the fininvest group (together referred to as the fininvest group) .
the internet site urltoken (the site) is an online information service provided by fininvest s. p. a. (fininvest) .
kojam fininvest ltd. stock price, share price, live bse / nse, kojam fininvest ltd. bids offers. buy / sell kojam fininvest ltd. news & tips, & f & o; quotes
to head off piling debts, fininvest has unloaded 92 million shares in mediaset .
these may not used on any other site or other media without the prior consent of fininvest or the legitimate owners .
the documentation, images, characters, design and layout of the site are the exclusive proerty of fininvest or used under licence by the company .
parent company cir launched the claim after a ruling that judge vittorio menta had been bribed to rule in favour of fininvest during the takeover of mondadori in 1991 .
mr. silvio berlusconi, chairman of ac milan, has approved the preliminary contract signed by mr. danilo pellegrino, c. e. o. of fininvest, and mr. han li, representative of a group of chinese investors, concerning the purchase of the entire stake owned by fininvest in ac milan equal to 99. 93% .
the capital structure page of kojam fininvest ltd. [ merged ] presents the authorized capital, issued capital, and paid - up equity capital of the company over the period .
consolidated revenues of the fininvest group for the year 2016 amounted to 5, 050. 8 million euros, up 6. 6% compared to 4, 736. 3 million in 2015 .
the net financial position of the fininvest group at december 31, 2016 shows a debt of eur 1, 279. 9 million compared with eur 977. 6 million at 31 december 2015 .
the ruling comes after fininvest was found to have paid the backhanders during a hostile bid to buy a publishing company from the italian prime minister' s long - standing rival carlo de benedetti .
the civil court in milan ruled fininvest' s actions had prevented an
impartial judgment in the original trial
and ordered it to pay court costs on top of the £690 million compensation .
fininvest added it does not intend to diminish its role as mediaset' s main shareholder and would use all means to block what it considered a
very serious deception
of market rules .
then there is banca mediolanum. fininvest holds 30. 124% but 20. 125% lacks voting rights. this follows opposition from the european central bank to fininvest taking back full control of its stake in mediolanum as established by a ruling of the council of state last spring. the company has already presented an appeal. if the position is confirmed, then a sale would be obligatory .
mediaset, which is already suing vivendi for damages over the pay - tv deal, echoed fininvest' s comments, adding it had been unaware of vivendi' s stake building until the statement .
the shareholders' meeting of fininvest spa held today under the chairmanship of marina berlusconi approved the financial statements of the parent company and examined the consolidated financial statements for the year that ended december 31, 2016 .
the deal raised $ 431 million (€377 million), reducing the company’s ownership by 7. 8 percent, according to bloomberg. fininvest remains the largest investor in mediaset, with 33. 4 percent of shares .
consequently, fininvest declines any responsibility and will not be liable for damages, losses or similar to any third party resulting from contact with the site or following the use of the contents of the site or the software employed .
in a much - needed move to quell piling debts, silvio berlusconi ’s fininvest spa company sold 92 million shares in mediaset on thursday after the stock hit a four - year market high at €4. 10 per share .
if not expressly foreseen, the contents of the site may not - in whole or in part - be copied, modified, reproduced, transferred, downloaded, published or distributed in any form without the prior written consent of fininvest .
the proceeds of the offering will be used by fininvest among other things to continue to strengthen its financial and capital structure and help possible investments with a view to diversify its equity portfolio ,
the company said in a statement .
mr berlusconi' s daughter marina, who is president of fininvest, called the decision
disconcerting
and pointed out it was
in favour of de benedetti' s group who has been leading an attack on the prime minister .
because of his dealings with fininvest, mills was investigated for money - laundering and alleged tax fraud and in 2006 was charged, as well as berlusconi, on corruption charges. mills was accused of receiving $ 600, 000 from berlusconi in return for not revealing details of fininvest. [ 2 ] he was sentenced to 4 and half years, however after appealing twice, the charges against mills were dropped as they had expired due to to a 10 - year statute of limitations. [ 3 ]
ac milan is for sale, which is on its way to completion. based on the preliminary contract signed with the chinese consortium, in march €320 million will be heading towards fininvest' s coffers, adding to the €200 million they have already received .
berlusconi' s investment holding fininvest, which controls mediaset via a 34. 7 percent stake, lashed out at vivendi, accusing it of trying to depress the company' s share price to then launch a
hostile takeover
at a discounted price .
in connection with the transaction, the chinese investors have been assisted by rothschild & co. as financial advisor and gianni, origoni, grippo, cappelli & partners as legal advisor, whereas fininvest has been assisted by lazard and bnp paribas as financial advisor and chiomenti as legal advisor .
fininvest does not accept any responsibility for material created or published by third parties with which the site has hypertext links. users who choose to visit an internet site linked to the site do so at their own risk and must take appropriate measures to protect themselves from viruses or other similar phenomena .
and finally there is mediaset. here bolloré' s swoop on the company' s capital opens up multiple scenarios, including a sale. but it is difficult to imagine a mediaset in which fininvest manages such a cumbersome vivendi presence. the impression is that dialogue may soon open up between the two groups .
if this translates into a reduction of fininvest' s position in the capital of a more european mediaset is difficult to say. if this happens it would suggest more of a financial succession in the berlusconi family, which would become less “company - entrepreneurial” and more of a “stakeholder” family, with an increasingly wealthy holding .
his wealth derives from his ownership of the financial conglomerate fininvest, including mediaset, which owns several major television channels and newspapers (according to freedom house, italy has constantly been
partly free
in regard to freedom of press while berlusconi was in charge [ 2 ]), but he started as a building contractor .
as soon as the new closing date is chosen, sino - europe sports will pay a third €100 million deposit to fininvest as a guarantee. this payment is expected to arrive tomorrow (in midweek at the latest). after that the new contract for the sale of the club will be signed and validified by both parties .
forbes estimates that berlusconi’s family fortune has decreased by more than half from 2000, when it peaked at $ 12. 8 billion. fininvest posted a net loss of €428. 4 million in 2013. the company continues to maintain shares in bank mediolanum, publishing company mandadori, and controls soccer team a. c. milan, among other holdings .
the statutory net result of the parent company fininvest s. p. a. for the 2016 financial year showed a profit of eur 3. 6 million (compared with profit of 221. 4 million in the 2015 financial year, benefiting from a capital gain of eur 272 million realized by the sale of 7. 8% of mediaset’s share capital) .
the investors operate through the management company sino - europe sports investment management changxing co. ltd. it consists, among others of, haixia capital (that is a state development & investment corporation), and yonghong li, chairman of the management company and main sponsor of the investor group and with whom fininvest has been negotiating for some time until today’s signing (“signing”) .
the mogul’s business empire has been under severe pressure in the past few years. the all - important television advertising revenues have crashed due to the long and brutal recession, while his fininvest holding company was made to pay a crushing €494million fine to berlusconi’s arch rival, carlo de benedetti, for the illegal means with which it won a takeover battle for the mondadori publisher in 1992 .
october 2009 – fininvest, berlusconi’s holding company, is ordered to pay €750 million to italian energy and media company cir after a judge finds berlusconi’s former lawyer cesare previti bribed a judge during the 1991 court battle for control of mondadori. the settlement was for lost revenue on the part of cir, which lost. in 2011, the amount of compensation was reduced to €560 million by an appeals court in milan .
legal form: public company business year: 01 / 01 – 12 / 31 founded: in 1978, telemilano – the nucleus of today' s tv company – went on air. in 1995, mediaset was founded, under the roof of which the television and advertising activities of silvio berlusconi' s (fininvest) company empires are subsumed. in 1996, media set became a public company at the milan stock exchange .
the defence of mediaset is the priority now. this emerged clearly on tuesday evening with the first, quick meeting between silvio, marina and piersilvio berlusconi. during the summit, which was also attended by the chief executive of fininvest danilo pellegrino, they acknowledged the decision to increase their stake in the television group, a choice made in the morning after a round of telephone calls that involved all of berlusconi' s children .
after amassing a fortune from his property portfolio in the 1970s, he diversified his interests by setting up a tv cable company, telemilano, and buying two other cable channels in an effort to break the national tv monopoly in italy. in 1978, these channels were incorporated into his newly formed fininvest group, which included department stores, insurance companies and even ac milan - - one of the world' s biggest football clubs .
fininvest, with almost €5 billion in revenues and more than 20, 000 employees, is one of the biggest italian business groups. the holding controls mediaset, mondadori, mediolanum, ac milan and other financial investments. then there are also the real estate assets, in the large part managed by dolcedrago, which is the exclusive property of berlusconi himself. nevertheless, recent events put the rich portfolio of shareholdings at risk, which concerns all the companies, except for mondadori .
kojam fininvest is in the finance - investments sector. the company management includes ajay g piramal - chairman / chair person, gautam b doshi - director, shitin desai - director, n l bhatia - director, n santhanam - director, vijay shah - managing director. it is listed on the bse with a bse code of 532536 and the nse with an nse code of kojamfin. its registered office is at gajera road, uchhad village, , jambusar dist. , bharuch, gujarat - 392150 .
in view of the negotiations for the sale of the subsidiary a. c. milan underway as at 31 december 2016, which was completed after the year end, within the consolidation of the fininvest group, in accordance with ifrs 5 (“non - current assets held for sale”), the business of the milan group was classified as a discontinued operation and has been shown as such in this report. this made it necessary to restate the comparative figures for the previous years, which, to make the presentation of the group more significant, excluded a. c. milan from the line - by - line consolidation, in the so - called pro forma financial statements .
between the company fin. prog. italia s. a. p. a. di ennio doris & c. and fininvest s. p. a. , there exists a voting syndicate representing at least 51% of the share capital of mediolanum s. p. a. , which shares were contributed on a 50 / 50 basis. the shareholders' agreement was renewed september 14, 2013 and shall remain in force for three years. number of outstanding shares: 738, 786, 857 essential information according to article 130 of the regulations for issuers 01 / 10 / 2014 extracts of agreements (italian version) 09 / 19 / 2013 extracts of agreements (italian version) 07 / 03 / 2013 extracts of agreements (italian version) 9 / 14 / 2010 extracts of agreements (italian version )
revenues the consolidated revenues of the fininvest group for the year 2016 amounted to eur 5, 050. 8 million, up 6. 6% on eur 4, 736. 3 million for 2015. on a like - for - like basis, namely not including the contribution of the revenues resulting from the consolidation of the rizzoli libri area and the radio broadcasting operations of the former finelco, the growth was + 1. 8% . the mediaset group reported revenues of eur 3, 667. 0 million, up 4. 0% on the eur 3, 524. 8 million for the previous year. revenues of the mondadori group amounted to eur 1, 280. 2 million, up by 11. 8% on the eur 1, 145. 4 million in 2015 (fall of 3% on a like - for - like basis) .
net prof﻿it / (loss) from continuing operations the net profit / (loss) from continuing operations was a loss of eur 123. 8 million compared to a profit of eur 208. 5 million for the previous year. the net profit / (loss) also included – in addition to the non - recurring expenses noted in relation to the ebit – extraordinary finance expenses, amounting to eur 41. 7 million, relating to the entry into hedge agreements and the early termination of credit lines connected to the agreement with vivendi. profit / (loss) from equity investments shows a profit of eur 129. 9 million, compared to a profit of eur 159. 5 million for 2015 and mainly includes fininvest’s share of the net profit of the mediolanum group, amounting to eur 119. 1 million (eur 131. 8 million as at 31 december 2015). excluding the total amount of the non - recurring expenses, net of the related tax effects, the net profit / (loss) from continuing operations was a positive amount of eur 162. 0 million .
html public
- / / w3c / / dtd xhtml 1. 0 strict / / en
urltoken
the storage of such content and the printing of pages form the site for exclusively personal use is permitted .
no responsibility is assumed regarding the contents of the site or for the use that third parties may make, both in terms of any eventual contamination deriving from access, inter - connection or the downloading of material from the site .
( *) mainly includes the losses from the a. c. milan operations
ebit ebit was a negative eur 188. 7 million, compared to a positive amount of eur 225. 6 million in 2015. the year 2016 was heavily penalised by the significant impacts largely resulting from the expenses from the impairment write - downs and provisions carried out by mediaset and made necessary due to the contractual default by vivendi, with the consequent progressive deterioration of the main performance indicators in the pay tv area, due to the impact on business operations during the interim management period, in addition to other non - recurring costs. the impact on the ebit of these types of costs, write - downs and provisions amounted to a total of eur 336. 4 million; excluding these expenses, ebit was a positive amount of eur 147. 7 million, compared to a positive ebit for 2015 of eur 248. 0 million, again without the impact of non - recurring expenses .
group net profit / (loss) the group net profit / (loss) was a loss of eur 120. 2 million, compared to an essentially breakeven figure for the 2015 and included the net profit / (loss) from discontinued operations amounting to a cost of eur 95. 0 million (eur - 93. 9 million for 2015), mainly consisting of the net profit / (loss) of the a. c. milan operations, in addition to extraordinary expenses relating to the sale. the profit / (loss) attributable to non - controlling interests was a profit of eur 98. 6 million (eur 114. 7 million in 2015). excluding all the non - recurring costs and expenses, as well as the net profit / (loss) of milan group for the second half of 2016, essentially recognised (upon the final sale of a. c. milan which took place in early 2017) as the component of the sale price by the purchaser, the net profit / (loss) for the year 2016 was a positive amount of eur 46. 9 million .
net financial position the consolidated net financial position was a debt of eur 1, 279. 9 million, compared to a debt of eur 977. 6 million as at 31 december 2015 .
financial deficit in 2016 there was therefore a financial deficit of eur 302. 3 million, compared to a financial surplus of eur 324. 9 million in 2015. in 2016 the mediaset group had a financial deficit of eur 303. 0 million and the mondadori group had a deficit of eur 64. 2 million. the group parent reported a financial deficit of eur 140. 8 million, which included the purchase of around 4. 8% of the mediaset shares for eur 212. 9 million offset by the receipt of the down payments for the sale of a. c. milan of eur 200. 0 million (eur 125. 0 million net of capital contributions made). the deconsolidation of a. c. milan’s debt (following the reclassification of that company to assets / liabilities held for sale) generated a financial surplus of eur 188. 5 million .
investments investments for 2016 amounted to eur 1, 053. 8 million (eur 1, 012. 7 million as at 31 december 2015) and consisted of eur 640. 7 million for television and movie broadcasting rights (eur 655. 9 million in 2015), eur 36. 1 million of investments in intangible fixed assets (eur 139. 9 million in 2015), eur 64. 0 million of investments in tangible fixed assets (eur 99. 2 million as at 31 december 2015) and eur 312. 9 million equity investments, financial assets and business combinations, including rizzoli, banzai and the radio stations for the former finelco (eur 117. 6 million in 2015). for more details, refer to the sections on the individual business segments .
workforce the workforce as at 31 december 2016 (including the agents in the sales networks and the workforce of the a. c. milan area, a discontinued operation) totalled 17, 415, up 301 compared to 31 december 2015. the consolidation of the operations acquired (rizzoli libri, banzai media and the radio stations of the former finelco) resulted in an increase of over 400 people at the end of 2016 .
dear user you are acceding in a selective access. please write in the space provided: your name, surname, address, e - mail address, company name, telephone number. you are kindly asked to specify if your request has to be addressed to the press office or to the financial department. you will receive a daily password .
after 24 hours the code will automatically become invalid and a new request must be made. thank you for your cooperation
html public
- / / w3c / / dtd html 4. 01 transitional / / en
urltoken
mediaset spa gruppo mediaset società per azioni registered office i - 20121 milano via paleocapa 3 share capital € 614. 238. 333 entered in the milan companies register, fiscal code and vat number 09032310154
dati societari - general archive - legal disclaimer - privacy - f. a. q. - glossary - site map - links -
while debt continues to rise for mediaset, profits are nowhere in sight. mediobanca estimates revenues have fallen 12 percent in the last five years. italy continues to face the longest recession since wwii, and ad sales have been particularly hard - hit for mediaset .
the company paid €700 million for broadcasting rights to the uefa champions league for 2015 - 18 in an effort to lure customers to its new pay tv channel, mediaset premium. but it has yet to rival the more popular premium content offering sky italia .
html public
- / / w3c / / dtd xhtml 1. 0 transitional / / en
urltoken
silvio berlusconi' s economic, media and political power is unmatched. since 1994, the richest man in italy did not hesitate once to use his superior means on the tv market to further gain power on a political level. as head of the executive force in the nation, berlusconi resides over the laws and conditions of the television business. by means of a broad majority in parliament, he directly controls the only competitor (as of recently), the public broadcaster rai .
furthermore, he remains the majority shareholder of a highly profitable tv empire. the mono culture not only damages and endangers the democracy but also leads to a constant decline of the italian program quality, which submerges the audience with a mixture of shallow shows, lotteries, violent films, reality shows, repeats, hollywood productions and animation .
date sources: live bse and nse quotes service: tickerplant | corporate data, f & o data & historical price volume data: dion global solutions ltd. bse quotes and sensex are real - time and licensed from the bombay stock exchange. nse quotes and nifty are also real time and licenced from national stock exchange. all times stamps are reflecting ist (indian standard time). by using this site, you agree to the terms of service and privacy policy .
copyright © 2018 bennett, coleman & co. ltd. all rights reserved. for reprint rights: times syndication service
yesterday mediaset controlling shareholder silvio berlusconi clarified a delicate point: there is no internal rift within his family. not an insignificant issue, because the contest with vincent bolloré for the control of mediaset comes at a key moment for the former italian prime minister' s empire .
“there is complete unity in my family on one precise point: we have no intention of letting someone try to diminish our role as business leaders. for this reason we have increased our stake and we will continue to do so within the limits of the law, ” the family said .
the issue of succession has been on the table for a while, and now like never before it appears that events risk accelerating choices that up to a few months ago were just theoretical considerations. will the berlusconi family succession be industrial or financial? in future, will his five children, marina, piersilvio, barbara, eleonora and luigi divide his companies or his assets ?
his statement yesterday and the use of the term “business leaders” was by no means random .
in 2014 revenues up to €2. 355 bn with a profit of around €58 mn, employees up to 11, 929
alongside haixia capital and yonghong li, other investors will acquire shares of ac milan, some of which are state - controlled entities. among those investors are companies active in the financial industry and others in industrial sectors. the binding contract between the parties will be completed by the end of 2016 (“closing”), subject to the obtaining of applicable authorizations from the italian and chinese authorities .
the agreement values ac milan at €740 million with an estimated indebtedness of approx. €220 million. the agreement requires the acquirers to undertake significant capital increases and liquidity injections aimed at strengthening ac milan’s financial structure, for a total amount of €350 million over a three - year period (€100 million is to be paid - in at the “closing”) .
< p > the partnership with china next generation education foundation was launched in sanya. attending the event president li yonghong, franco baresi & nbsp; and daniele massaro < / p >
copyright © 2016 acmilan. com. all rights reserved. do not duplicate or redistribute in any form. vat number: 01073200154 licenza siae 5330 / i / 5051
this site uses cookies to send advertising and services in line with your preferences. if you want to learn more or refuse consent to all or some cookies click here. by closing this banner scrolling through this page or by clicking any of its elements consent to use of cookies. to hide this message click on close .
html public
- / / w3c / / dtd xhtml 1. 0 transitional / / en
urltoken
copyright © urltoken ltd. all rights reserved. reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express written permission of urltoken is prohibited .
consolidated revenues: eur 5, 050. 8 million (+ 6. 6% )
ebitda is equal to eur 1, 217. 5 million, compared to eur 1, 402. 9 million in the previous year .
group operating profit was positive by eur 147. 7 million, net of non - recurring charges. this is mainly due to writedowns and allocation provisions following the impairment processes in mediaset, which were due to the progressive decline in pay - tv area performance and worsened by the impact on business operations caused by vivendi’s failure to honor its contractual agreement. the impact of non - recurring items totaled eur 336. 4 million, representing a total loss of eur 188. 7 million (+ 225. 6 million in 2015) .
the net result excluding all non - recurring costs and milan a. c. ’s losses in the second half of 2016 (an amount substantially recognized by the purchaser at the time of sale as a component of the price) was positive for eur 46. 9 million .
considering the impacts of non - recurring items and the eur 95 million charge connected to the full year results of milan a. c. (whose sale in 2017 will show a consolidated gain of approximately eur 600 million), the group’s net result recorded a loss of eur 120. 2 million (in the face of what was essentially a breakeven in 2015) .
group investments total eur 1, 053. 8 million (1, 012. 7 million in 2015) and include investments of eur 312. 9 million in shareholding, financial instruments and business networking agreements including rizzoli libri, banzai media and ex - finelco radio activities .
total net consolidated total shareholders' equity at 31 december 2016 amounted to eur 4, 268. 7 million .
* group milan business was classified as
discontinued operations” as per ifrs5 definitions .
real estate debt restructuring pursuant to art. 67 lf (italian bankruptcy law )
hydro - thermo sanitary debt restructuring pursuant to art. 182 bis lf (italian bankruptcy law )
corus corporate finance & bullet; milano & bullet; verona & bullet; tel 02 86997461 & bullet; p. iva: 08835520969 privacy policy
the disgraced tycoon and former prime minister silvio berlusconi is planning a colossal assets sale to finance his return to a position of power and influence, insiders say .
even ac milan, one of the jewels in the crown of the mogul’s business empire, is up for grabs with news that thai millionaire bee taechaubol had met berlusconi in his arcore villa, the scene of the notorious bunga bunga parties, to offer €500million for a 51 per cent stake in the football club. chinese investors are also circling .
at the same time a large chunk of the tycoon’s mediaset television empire appears to be on the market too, after it emerged that berlusconi had met fellow media baron rupert murdoch to discuss what the berlusconi family have called “investment” in the business .
berlusconi’s son, the mediaset vice president pier silvio berlusconi, said the family’s continuing control of the company was not in question. but berlusconi junior said mediaset might consider investments from other firms. he also confirmed the meetings between his father and mr murdoch .
by selling off parts of ac milan, mediaset plus stakes in his finance and publishing businesses, 78 - year - old berlusconi, who last month completed a year - long community service sentence for tax fraud, could generate a €5billion in liquid funds, according to reports in the italian press .
one source close to the berlusconi camp told the independent, however, that the three - time former prime minister was not selling up, but was planning a financial and political counter - attack after years of failing fortunes and legal battles .
“with all this liquidity he hopes to return to the position of king maker, ” he said. “this is not about cashing in his chips. he’s not selling up to give his money over to his children and settle down. he is re - organising, restructuring, and with this huge amount of cash he hopes to become the centre of power again. ”
the source said that berlusconi was also looking to by a stake in the corriere della sera newspaper – something the mogul had tried but failed to do in the past .
as a result of his definitive criminal conviction berlusconi cannot stand for parliament until 2019 by which time he will be 82. but a sizeable stake in corriere, italy’s centrist newspaper of record, would certainly boost his power and influence .
the mogul has also talked about launching a new centre - right party to replace his crumbling forza italia. and having so much cash at his disposal would allow him to influence other centre - right parties, observers say .
roberto d’alimonte, a political pundit at rome’s luiss university, predicted that berlusconi would use his financial muscle to maintain his political power, influence election campaigns – and protect his long - term business interests .
“berlusconi is never going to be on the political front line again. but he will absolutely act by reorganising his assets to maintain his behind - the - scenes power, ” he said. “and this way he can help protect his remaining business interests and protect himself from legal threats. this is all it’s ever been about for berlusconi. ”
‘being berlusconi: the rise and fall, from cosa nostra to bunga bunga’, by michael day will be published by palgrave macmillan in july .
note - trailing eps is displayed only when latest 4 quarter results are available .
our experts panel will help you to get you those life - changing stocks, tomorrow' s bluechips today .
qims' commitment to pursue academic excellence & advancement of medical knowledge for the aspiring youth of the country and particularly for the province of balochistan. the primary aim of the insitute is to provide highly skilled medical doctors .
allied officers command & staff college visited quetta institute of medical sciences on 24 nov 2017 .
you must be a registered user to save alerts. please sign in or register .
director dealings, financials and forecasts are now only available to urltoken subscribers. to access these valuable tools and see the full perspective, subscribe now .
our extensive director dealings data, financial analysis, and forecasts are now only available to urltoken subscribers. to benefit from this content, plus our exclusive data archive, subscribe to the ft today. subscribers benefit from access to :
take a deeper look into a company' s insider transactions by viewing director purchases and sales by individual directors .
the interactive charting tool provides extensive upper and lower indicators, news and fundamental overlays, and comparison features .
track sectors and industries performance, see top performing companies, and find news relevant to you .
access bonds data, league tables and trends, world markets, macro maps, economic calendar events, and data archives .
an average of 120 articles are published each week. here are the most read :
all content on urltoken is for your general information and use only and is not intended to address your particular requirements. in particular, the content does not constitute any form of advice, recommendation, representation, endorsement or arrangement by ft and is not intended to be relied upon by users in making (or refraining from making) any specific investment or other decisions .
any information that you receive via urltoken is at best delayed intraday data and not
real time
. share price information may be rounded up / down and therefore not entirely accurate. ft is not responsible for any use of content by you outside its scope as stated in the ft terms & conditions .
markets data delayed by at least 15 minutes. © the financial times ltd. ft and ‘financial times’ are trademarks of the financial times ltd. the financial times and its journalism are subject to a self - regulation regime under the ft editorial code of practice .
silvio berlusconi' s media empire has been ordered to pay £690 million compensation to a business rival after being convicted of bribing a judge during a takeover .
the ruling is particularly galling for the italian prime minister as mr de benedetti also owns the left - leaning newspaper, la repubblica, which has lead coverage of the escort girl sex scandal involving mr berlusconi .
the bribery claim is the latest in a series of controversies to hit the 73 - year - old media tycoon in the past few months. call girl patrizia d' addario, 42, has described how she was paid £900 after spending the night with him and tapes of their explicit
pillow talk
.
in april, it also emerged that berlusconi had attended the 18th birthday party of model noemi letizia, giving her a £5, 500 gold and diamond necklace, prompting his long suffering wife veronica lario to file for divorce .
berlusconi escaped prosecution personally because a statute of limitations had passed and he was acquitted .
the ruling does not affect berlusconi' s control of mondadori which publishes several glossy weekly magazines and is part of his media empire which also includes three tv stations and a family controlled newspaper .
in a statement de benedetti' s group cir said :
we satisfied with this ruling which brings justice to the company and its shareholders .
after the original criminal sentence the court said that serious damage had been caused to the cir group in terms of fundamental operational values .
mr de benedetti added :
the sentence does not compensate me for not being able to realise an industrial project that would have helped create the first italian publishing house but it does confirm that illegal behaviour was used to impede me .
finally, twenty years after this fraud which was carried out to stop me having legitimate control over mondadori and after the decision of the criminal court, the civil court has also given us justice .
criminal allegations have dogged mr berlusconi for years and he has been accused of embezzlement, tax fraud and false accounting in the past .
in some cases he has been cleared while in others he has been convicted but had the verdict overturned on appeal .
berlusconi faces a court challenge to the controversial immunity law he passed last year which makes it impossible for him and senior government figures to stand trial while in office .
but the constitutional court, which will deliberate on whether the law is unconstitutional, has already been hit by smears after it emerged one of its judges was entertained by mr berlusconi in june .
one of the trials involving berlusconi and which been affected is a corruption case involving david mills, the estranged husband of olympics minister tessa jowell .
earlier this year he was found guilty of accepting a £220, 000 bribe from berlusconi for giving favourable evidence towards him in previous trials .
chat with us in facebook messenger. find out what' s happening in the world as it unfolds .
former italian prime minister and media tycoon silvio berlusconi has emerged as an unlikely kingmaker in italy' s general elections in march 2018. affectionately known as
il cavaliere
( the knight), berlusconi was expelled from the italian parliament in 2013 and is currently barred from public office after convictions for bribery and tax fraud. he' s pictured here in 2009 .
berlusconi shares a moment with president george w. bush during an arrival ceremony on the white house south lawn in october 2008 .
libya' s moammar gadhafi attends a meeting with berlusconi in rome in june 2009. the libyan leader was killed in 2011 after being captured by rebel forces in his hometown .
president barack obama and first lady michelle obama welcome berlusconi to a g20 dinner in pittsburgh in september 2009 .
berlusconi waves to journalists as he leaves a milan hospital in december 2009 after suffering severe facial wounds in an attack at a rally .
russia' s vladimir putin joins berlusconi for a press conference in lesmo, italy, in april 2010 .
berlusconi reacts during the presentation of antonio razzi' s book
my clean hands
at the italian parliament in february 2012 .
berlusconi arrives at the german chancellery in berlin to meet with chancellor angela merkel in january 2011 .
berlusconi passes by carabinieri guards before a meeting with russia' s president at villa madama in february 2011 .
berlusconi, then owner of the italian soccer club ac milan, celebrates with the players after the team won the luigi berlusconi trophy in august 2011. the trophy is in honor of berlusconi' s father .
berlusconi, right, at the dedication ceremony at the george w. bush presidential library and museum in dallas in april 2013 .
berlusconi in the italian senate in october 2013, a month before he was expelled from parliament after his conviction for tax fraud .
the political deal - maker, now 81, attends a la7 tv program in rome in february 2018. italy will hold general elections on march 4, and berlusconi, as leader of the forza italia party, has brokered a right - wing alliance with the neo - fascist brothers of italy party and the anti - immigrant northern league .
in further proof that seemingly nothing can bring silvio berlusconi down - - not even a potential jail sentence - - italy' s most colorful public figure is back in contention to lead his country for a fourth time .
another spell in italy' s highest office would be just the latest chapter in the life of the charming, billionaire three - time former prime minister .
in october berlusconi was sentenced to four years in prison for tax evasion, but has since appealed the verdict .
until recently, berlusconi appeared to be leading a charmed life. his vast business empire spanned media, construction and football, making him the 118th - richest person in the world, according to forbes, with a net worth of $ 6. 2 billion, and he was italy' s longest - serving post - war prime minister before quitting in 2011 .
but last year he became embroiled in charges that he had paid for sex with a 17 - year - old girl; his coalition government became ever more fragile; and berlusconi resigned his premiership as europe' s financial crisis threatened to embroil italy .
despite the many scandals that have dogged berlusconi since he entered politics nearly two decades ago, the 76 - year - old is indisputably one of life' s survivors. in parliament, opponents tabled 51 confidence votes in him in the past three years alone, but italians have thrice elected him as prime minister .
pier luigi bersani, leader of italy' s democratic party, said he would keep outgoing premier mario monti' s austerity reforms, but says stimulus is needed to boost the country' s flagging economy .
three - time former prime minister and media billionaire silvio berlusconi quit in disgrace in 2011, and is now on trial for allegedly paying for sex with an underage girl. he has pledged to refund an unpopular property tax with his own money .
the surprise of the campaign has been ex - comedian beppe grillo, head of the populist anti - establishment five star movement, which has won support among those critical of mario monti' s austerity policies .
the harsh budget cuts and austerity policies of current prime minister mario monti (l), shown with the outgoing pope benedict xvi, won him plaudits from european leaders, but were unpopular in italy .
in this election berlusconi is appealing to tax - burdened italians' desire for some relief. he has promised not only to abolish the hugely unpopular property tax on primary residences, known as the imu, he is also promising to pay back the property taxes people have already paid .
berlusconi is also vowing to cut corporate taxes and income taxes and spend the economy out of the recession .
however his promises have met with considerable skepticism. prominent journalist gad lerner has long been critical of the former prime minister .
berlusconi has transformed italian politics into a big show and he is always looking for a spectacular center for his propaganda .
businessman gianvencenzo coppi traveled to rome to hear center - left rival, democratic party leader pier luigi bersani, talk about his commitment to the private sector, but he told cnn he hadn' t made up his mind whom he would vote for, but it was unlikely to be berlusconi .
he' s making promises in my opinion he cannot maintain ,
said coppi .
he' s promising to cut taxes, the imu... and no one knows in which way he can do it .
born in milan in 1936, berlusconi gave notice early on of his showman side by working as a lounge room crooner aboard a cruise ship to help fund his university tuition - - he studied law .
various low - level commercial enterprises followed before the fledgling entrepreneur enjoyed his first real success in property development in the late 1960s when he was involved in a project to build milano two - - nearly 4, 000 flats - - outside milan .
berlusconi turned his attention to politics in 1993 when he formed the center - right forza italia party and the following year, in a snap election, he won the post of prime minister. however, a dispute with his right - wing coalition partners from the northern league party, as well as an indictment for alleged tax fraud, ended berlusconi' s tenure in the job after barely seven months. he was acquitted on appeal in 2000 after the statute of limitations had expired .
after defeat in the 1996 election to his political nemesis, romano prodi, he became embroiled in other financial scandals, including a charge of bribing tax inspectors. he denied any wrongdoing and was cleared again on appeal in 2000 .
his fortunes turned again in 2001 when he was sworn in as prime minister for a second time. but prodi - - a former european commission president - - ended berlusconi' s more successful reign with his center - left union coalition victory in 2006. at that time, the tycoon had presided over the longest - serving post - war italian government .
despite having a pacemaker implanted to regulate his heartbeat after he collapsed during a political rally, he refused to slow down. sporting a hair transplant, cosmetic surgery and a tan, berlusconi returned to power for a third time in 2008 under the banner of the newly created people of freedom party .
the next year proved to be one of extremes for the veteran politician. he was praised for his handling of the devastating earthquake that struck the italian town of l' aquila in april 2009, and survived criticism after urging survivors to see their plight like
a weekend of camping .
but the following month, berlusconi' s second wife, veronica lario, filed for divorce - - alleging berlusconi had an inappropriate relationship with an 18 - year - old aspiring model whose birthday party he had attended. berlusconi said she was the daughter of a friend and that he had done nothing wrong .
in december that year, a man with a history of mental illness hit berlusconi in the face with a replica of milan' s cathedral at a campaign rally, breaking several of his teeth and fracturing his nose. defense minister ignazio la russa told the italian newspaper corriere della sera that the irrepressible berlusconi continued to shake hands with supporters for
a couple of minutes
after being hit .
with the country' s economy reeling amid the financial crisis, pressure on berlusconi grew. gianfranco fini - - a former party ally - - lashed out, accusing him of a lack of attention to the economy and structural reforms that italy needs. the prime minister survived three votes of confidence in parliament during 2010 and 2011, winning one by just three votes, but his authority continued to ebb .
economists said berlusconi commanded neither sufficient political authority to push through spending cuts nor the moral high ground to squeeze more taxes out of italians while he faced trial on various charges. other european leaders criticized him for failing to implement economic reform with sufficient urgency .
meanwhile, berlusconi faced a serious personal challenge with charges of sex with an underage nightclub dancer and abuse of power .
berlusconi had sex 13 times with underage dancer karima el mahroug, nicknamed
ruby the heart - stealer ,
say prosecutors who allege the prime minister abused his position when he intervened in may 2010 to get her released from the jail where she was being held on charges of theft. el mahroug has said she never had sex with berlusconi and that she lied to him about her age, telling him she was 24 .
in september 2011, prosecutors submitted transcripts of approximately 100, 000 pages of wiretaps - - from 2008 and 2009 - - to a court in bari. the prosecutors have accused eight people of paying young women to attend so - called
bunga bunga
parties at berlusconi' s home .
berlusconi denied the charges and accused prosecutors of conspiring against him in a left - wing plot .
communism never changes in italy. there are still people who use the penal code as a weapon in their ideological battles ,
he said earlier this year .
but, according to the transcripts of the calls, berlusconi made several controversial remarks, vowing at one point to leave italy, which he described as a
s * * * * y country
that
sickened
him. when confronted with these remarks, berlusconi laughed off this and other gaffes .
© 2018 cable news network. turner broadcasting system, inc. all rights reserved. cnn sans ™ & © 2016 cable news network .
on monday, with italy' s economic stability still uncertain, berlusconi, 75, denied rumours that he was preparing to resign, which immediately reversed the brief recovery in stock and government bond markets. with yet another confidence vote likely to come in the next two weeks, the post takes a look back at berlusconi' s long and embattled career as media magnate and politician .
silvio berlusconi has been elected prime minister of italy three times in the last 20 years, and although he also lost two elections to his left - wing rival romano prodi, the billionaire businessman has managed to lead the longest - running post - second world war government in italian history (from 2001 - 2006) and, in the last three years, survive 51 votes of confidence. despite his winning record, though, berlusconi is never far from controversy.
finanziaria d'investimento fininvest s.p.a. known as just fininvest s.p.a. is an italian holding company controlled by the berlusconi family and managed by silvio berlusconi 's eldest daughter marina berlusconi . 
finanziaria d'investimento fininvest s.p.a. known as just fininvest s.p.a. is an italian holding company controlled by the berlusconi family and managed by silvio berlusconi's eldest daughter marina berlusconi.
finanziaria d'investimento fininvest s.p.a. known as just fininvest s.p.a. is an italian holding company controlled by the berlusconi family and managed by silvio berlusconi's eldest daughter marina berlusconi.