E.C. Shakes Head At Golden Share For Telecom Italia

Law360, New York (September 13, 2006, 12:00 AM EDT) -- Amid mounting concerns over Telecom Italia SpA’s sale of its mobile arm Telecom-TIM, the European Commission on Wednesday warned against government use of special veto rights to block company asset sales, just days after it said a similar “golden share” proposal by France appears to be legal.

European Union internal markets spokesman Oliver Drewes said while the Commission has no “concrete information” on what is planned in Italy, “as a very general remark, I can make the observation that golden shares as such have no place...
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