MILAN, July 6 (Reuters) - Italian energy services group
Saipem said on Tuesday a court had turned down its
appeal against a resolution by market watchdog Consob that it
had not drawn up its 2016 results properly.
In a resolution in 2018, Consob alleged Saipem had not fully
complied with regulations over reporting results relating to
The company later issued a press release providing a pro
forma consolidated income statement and balance sheet for 2016
to comply with Consob's requests but said it did not share the
regulator's judgment, filing an appeal with an administrative
On Tuesday Saipem said the administrative court had thrown
out its request to have the Consob resolution annulled.
It said it reserved the right to appeal the latest ruling to
a higher administrative court.
(Reporting by Stephen Jewkes; editing by Barbara Lewis)