Berlusconi's Fininvest hit with $ 1.093 bn decision

ROME: The Italian company Fininvest, which is controlled by Prime Minister Silvio Berlusconi, has been sentenced to pay $ 1.093 bn to its rival media group CIR in a long-running legal dispute, ANSA news agency said.

Milan's civil court ruled yesterday that the CIR holding company of Carlo De Benedetti was entitled to $ 1.093 bn in compensation for Fininvest destroying the value of its stake in Mondadori, Italy's leading publishing house.

Marina Berlusconi, the head of Fininvest and the daughter of the prime minister, announced the company would appeal the court decision.

The case dates from 1990, when Fininvest, then headed by the prime minister, wrestled control of Mondadori from De Benedetti.

De Benedetti welcomed the court's ruling, saying "it established in an irrevocable fashion the illegal behaviour" of Fininvest.