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Italian stocks watchdog bans Vincent Bolloré

Fined three million euros for Premafin transactions

27 January, 12:27
Italian stocks watchdog bans Vincent Bolloré (ANSA) - Milan, January 27 - French industrialist Vincent Bolloré on Monday was banned for 18 months from positions at companies listed on the Italian stock market by Italian bourse watchdog Consob, for alleged illegal share transactions of Premafin, the holding company founded by former insurance magnate Salvatore Ligresti. The chairman and CEO of investment group Bolloré was also fined three million euros. According to a Consob statement, the charge is related to securities transactions in 2010.

Ligresti faces trial for alleged involvement in cooking the books at the Fonsai insurance group and acquiring illegal dividends of 200 million euros.

In 2012, Premafin came under the control of Italian financial services company Unipol Gruppo Finanziario.