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DIEGO MAXIMUS: Tod’s chief Diego Della Valle isn’t getting a thumbs-down sign yet.

After threatening earlier on Thursday to cancel his plan to restore the Colosseum, the executive said during an impromptu press conference held in Rome later that day that he was holding off on that decision. Della Valle, who had met with Italy’s minister of cultural assets, Lorenzo Ornaghi, in the morning, said: “We await the result of the inquiries, as per the minister’s request, but we pray the authorities will act quickly and well.”

This story first appeared in the January 13, 2012 issue of WWD. Subscribe Today.

The entrepreneur’s efforts to restore the iconic amphitheater in Rome with a donation of 25 million euros, or $31.8 million at current exchange, are being thwarted by a series of bureaucratic glitches, and by an investigation by the Court of Auditors and Rome’s public prosecutor.

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