Telecom Italia Wins Final Court Ruling to Recoup €1 Billion

Telecom Italia SpA won a long-running legal case against the Italian government that will provide the former phone monopoly with a windfall of about €1 billion ($1.2 billion)

The company said it has been notified of a ruling by Italy’s Corte di Cassazione, the country’s highest court, confirming earlier judgments ordering the state to refund Telecom Italia for licensing fees paid in 1998 that weren’t actually due. The amount due is equal to the original license fee of slightly more than €500 million, plus revaluation and accrued interest, bringing the total to just over €1 billion, according to a statement on Saturday.