Word: fininvest
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...APPOINTED. MARINA BERLUSCONI, 36, eldest daughter of the Italian Prime Minister Silvio Berlusconi; to head Italy's largest publisher, Mondadori, by its board; in Milan. Marina is also deputy chairperson of Fininvest, the Berlusconi family's holding company that controls Mondadori. The PM has come under fire for his multibillion-dollar business interests...
...None of those questions got clear answers last week. Through his $12 billion Fininvest holding company, Berlusconi currently owns Italy's three major private TV networks. As Prime Minister, he will also have indirect control over the three state-owned channels - putting 90% of the TV viewing public in his hands. He has promised to propose solutions to this conflict of interest during his first 100 days...
...tide of anticorruption sentiment. Even as he was host to a U.N. conference in Naples on combatting organized crime, the Prime Minister, once dubbed Il Cavaliere, or the knight, found himself among the knaves as he was formally placed under investigation by magistrates engaged in a bribery probe of Fininvest, his business empire...
...bribery but were victims of corrupt tax inspectors who had extorted money in exchange for favorable tax audits. Although the judicial notification implied no guilt, Berlusconi found himself directly caught up in the debate over the apparent conflict of interest between being Prime Minister and holding onto control of Fininvest, a $7 billion-a-year conglomerate that dominates the Italian media. Belatedly, the Prime Minister said he was ready to make a public offering of a majority of shares in his three television channels...
Italian magistrates told Silvio Berlusconi he is under investigation for corruption charges, even as the Prime Minister was host to an international conference in Naples on organized crime. Berlusconi allegedly authorized the payment of bribes to tax officials by officers of Fininvest, a $7 billion media-and-retail conglomerate he formerly headed and still owns. The Prime Minister denied the charges and said he would continue his six-month-old administration, but he also offered to sell part of Fininvest, something he had previously refused...