Italian court frees real estate magnate arrested in Milan property probe

MILAN (Reuters) -A Milan court on Friday freed the founder of real estate firm Coima SGR from house arrest imposed over an inquiry into alleged crimes in Milan's urban planning, two sources with direct knowledge of the matter told Reuters. The court ordered the removal of the precautionary measure imposed on Manfredi Catella on July 31, without issuing any alternative restrictions, the sources said. Catella handed over his CEO powers at Coima, one of Italy's biggest property developers, following his house arrest.