Rome

Berlusconi appeal fails to overturn 541-million-euro damages

Court confirms damages to De Benedetti's CIR holding company

Berlusconi appeal fails to overturn 541-million-euro damages

(updates previous) Rome, September 17 - Italy's supreme Court of Cassation on Tuesday rejected an appeal by Silvio Berlusconi's holding company Fininvest against a huge damages payout over the bribing of a judge in the takeover of publisher Mondadori. As a result, the damages of around 541 million euros to rival Carlo De Benedetti's company CIR remains. The damages are related to Fininvest allegedly having wrested control of Italy's Mondadori publishing company from CIR during a takeover battle through unacceptable means in 1990. The original ruling dates back to October 2009, when a judge ruled Berlusconi as sharing responsibility for having bribed the judge during the takeover battle. A subsequent appeals court had cut the original 750-million-euro damages by a quarter.

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