The net loss from equity investments was euro 78.3 million, and is mainly composed of:
- euro 44.3 million for the fair value adjustment of the “convertendo” equity instruments issued by Prelios S.p.A.;
- euro 12.8 million from consolidation, on the basis of available information, of the associate Prelios S.p.A. under the equity method;
- euro 4.9 million as the net balance of consolidation according to the equity method and adjustment to market value of the investment in RCS Mediagroup S.p.A. (which, once the premise of significant influence ceased to exist due to dissolution of the Shareholders' Agreement, was reclassified from investment in associates to financial assets available- for-sale);
- euro 11.7 million for adjustment of the value of the equity investment held in Mediobanca (euro -10.4 million) and Fin.Priv. (euro -1.3 million), recognised in the interim financial statements at June 30, 2013, consistently with the policy that rules the significance threshold and duration of the decrease in value;
- euro 4.9 million for adjustment of the value of Alitalia to net equity before the subscribed capital increase.