CIR: Lodo Mondadori hearing

Milan, December 1 2009  – CIR SpA and its legal counsel, Prof. Vincenzo Roppo and Elisabetta Rubini, hereby notify that at the opening of today’s hearing on the request for the suspension of the first degree civil ruling on the Lodo Mondadori affair, the president of the Court of Appeal asked the parties to see whether it is possible to reach an agreement on the subject of execution.   At this point Fininvest proposed having a guarantee in favour of CIR at its first request issued by a prime bank, in order to guarantee CIR the full amount of the compensation established in the first degree ruling, plus interest and ancillary costs. CIR accepted the proposal of Fininvest subject to first checking the text of the guarantee that the parties will have to agree upon and on the condition that the ruling of the Court of Appeal comes as soon as possible. The Court, which reserves the right to take whatever measures it deems appropriate, has adjourned the hearing until December 22 2009 for the presentation of the said guarantee.    CIR and its legal counsel would like to express their satisfaction at the outcome of the hearing.

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