By  on January 19, 2012

MILAN — A green light to restore the Colosseum may be a step closer for Tod’s SpA.

It’s the latest twist in a series of bureaucratic maneuvering that pushed Diego Della Valle, chairman and chief executive officer of the luxury goods house, to threaten last week to pull his over $31 million sponsorship of the restoration.

On Thursday, the national union of cultural assets and activities, the Segreteria Nazionale della Unione Italiana del Lavoro Beni e Attività Culturali, or Uilbac, withdrew its report to the Court of Auditors and Rome’s public prosecutor that had raised questions over the Tod’s funding. Also, Codacons, Italy’s consumer protection organization, which, in accordance with Italy’s antitrust authority, had highlighted “a series of distortions” concerning Tod’s bid and a lack of detailed projects, presented a “motion of conciliation” to the Court of Auditors.

Last week, Uilbac requested more details on eventual penal and fiscal responsibilities in assigning the Tod’s sponsorship, referring to a scarcity of documentation detailing the works and the permits. The unexpected roadblocks put down by Uilbac and Codacons generated a public outcry, especially after Della Valle threatened to withdraw his sponsorship of the restoration. In withdrawing its report and possible objections, Uilbac pointed to the outcry as the reason, saying the association had been attacked and blamed for stalling the works.

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