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Um nochmal am Aufhänger des Threads anzuknüpfen: Freedomland founder quits By Paul Betts in Milan Published: October 18 2000 19:22GMT | Last Updated: October 19 2000 12:54GMT The scandal surrounding Freedomland deepened on Wednesday, with the resignation of the founder and chairman of the Italian internet television company that is listed on Milan`s new market for high-tech stocks. Virgilio Degiovanni resigned "in the interest of the company" after a board meeting, although he continued to deny charges of stock manipulation and balance sheet falsification. The company is proposing to replace him with Luigi Guatri, a former dean of Milan`s Bocconi University, who has yet to accept. The shares continued to come under heavy pressure. Freedomland launched its initial public offering on April 5, offering 22.9 per cent of its shares at E105 ($88) each. The shares had fallen to E42 before Milan magistrates disclosed this month that the company was under investigation for allegedly inflating the number of its customers on its books ahead of its IPO. The shares resumed trading on Wednesday on the Nuovo Mercato, having been suspended for the past four days. They dropped almost 10 per cent to E26. In an effort to revive confidence in the company, Freedomland last week appointed Piero Gnudi, former chairman of the Iri state holding group, as an independent guarantor of the company`s behaviour. But the stock exchange sought more explanations before allowing shares to resume trading. It received the necessary information, including the company`s confirmation that it had liquid assets of L488.6bn ($215m). The affair - which has embarrassed the stock exchange and regulatory authorities as well as Deloitte & Touche, the company`s independent auditors - has been complicated by Deloitte & Touche`s disclosure that it was unable at present to certify the company`s first-half earnings statements. The firm is conducting additional checks on Freedomland`s accounts and is due to file its conclusions to Consob, the stock market regulator, by November 15. **** Also dieser Wettbewerber ist derzeit deutlich geschwächt. JP |
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| aus der Diskussion: | Metabox-Konkurrenz schläft nicht |
| Autor (Datum des Eintrages): | Janphil (20.10.00 00:49:45) |
| Beitrag: | 45 von 60 (ID:2126120) |
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