DELLA VALLE’S REBUTTAL: After several Italian national newspapers reported Monday that controversy was brewing around Diego Della Valle’s recent decision to restore the Colosseum in Rome, Tod’s Group released a statement clarifying the various points of contention. The crux of the debate revolved around the uncertainty regarding the details of the agreement between Della Valle and the Ministry of Culture. One Italian politician speculated the Italian mogul would have exclusive and private use of the image of the Colosseum for commercial purposes, while another questioned his intention to provide all of the funds himself. Tod’s confirmed Della Valle’s contribution of 25 million euros, or $35.5 million at current exchange, for the restoration as well as “no possibility that the group will use the monument for advertising or commercial purposes, nor in exclusivity nor in any other way,” as had been originally communicated during a press conference in January.
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