TIM has EUR74m fine cancelled

Italy’s top court has annulled a EUR74.3 million (USD90 million) fine levied against Telecom Italia (TIM) in 2017. The penalty was imposed by markets regulator Commissione Nazionale per le Societa e la Borsa (Consob) for the alleged failure to notify authorities of a move by main shareholder Vivendi to take effective control of TIM. According to a Reuters report, the court found that the regulator had not followed the proper procedure when making its ruling.