Telefonica Chicago Cubs Europe s largest telecom company
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Telefonica, clarifies baseball Europe's largest chicago fire spells out telecom company by marketcapitalisation, had no immediate comment, saying it has yet toanalyse the ruling. Thecourt is saying he's guilty of a criminal offence and thatshould be an issue for some investors, particularly in theUnited States, after the recent scandals there," the analystsaid. GOVERNANCE CONCERNS "This definitely raises corporate governance issues. He had faced up to four-and-a-half-years in prison if hehad been found guilty.
Prosecutors had contended Alierta, one of Europe's mostrespected executives, bought Tabacalera shares in 1997 whileserving as chairman ahead of a tobacco price hike and theacquisition of a U.S cigar maker baseball managers . "Noone will like it, but he hasn't been found guilty per se." The court's ruling can be appealed by anti-corruptionprosecutors within five days cubbies . "But, at the end of the day, the guy has a lot of supportand I don't think it's going to bring him down." "It's not in anyone's interest, neither the shareholders,nor the (Spanish) government, nor the company," he said cubbies caps . "The conduct by (Alierta and Placer) would be considered acrime by article 285 of the Penal Code of the use of privilegedinformation," the document said cubbies hat .
"This is something shareholders, especially foreign ones,are going to be asking about a lot about it in a discreetmanner," said a senior telecoms analyst who requestedanonymity baseball ticket . "We clear Cesar Alierta and Luis Placer of the crime of useof privileged information," the documents said cubbies t shirt . The court added however it believed a crime had beencommitted cubbies t shirts . The decision damaged Alierta's image, analysts said, butwould be unlikely to force his resignation cubs rooftop . The court backed the prosecution's argument that Alierta,who formerly headed tobacco company Tabacalera, and his nephewLuis Placer, had made about 1.8 million euros ($2.54 million)trading stock on privileged information, which would haveconstituted an insider trading offence. * Insider trading charges dismissed due to time lapse Stocks * Court backs claims Alierta used privileged information * Shares close up 0.76 percent * Analysts say Alierta position not under threat (Recasts and adds background, byline, analyst comment)By Robert Hetz and Elisabeth OLeary MADRID, July 17 (Reuters) - Madrid's Supreme Court onFriday said the chairman of Spain's Telefonica (TEF.MC), CesarAlierta, had traded stock using insider information whilerunning his previous company, but dismissed criminal chargesagainst him because too much time had elapsed, officialdocuments showed.
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