Pirelli says contacts made for sale of minority stake in Olimpia |
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Published
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Fri, 19 Jan 2007 10:29
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MILAN (AFX) - Pirelli & C SpA said that contacts have been made with several interested parties for the sale of a stake in Olimpia, the company that controls 18 pct of Telecom Italia SpA.Pirelli, which controls 80 pct of Olimpia, confirmed it is prepared to consider bringing new minority shareholders on board in Olimpia.Pirelli added, however, that at the moment no agreements of any kind, even preliminary, have been reached.In an unsourced report today, the weekly Il Mondo said French financier Vincent Bollore is interested in buying a stake in Olimpia.Mondo said however that Bollore was not interested in buying a stake that priced Telecom Italia shares at 3 eur, as this was considered too expensive.Pirelli last year wrote down the value of its Telecom Italia shares to 3 eur per share, from 4 eur previously.Mondo also said Bollore would be interested in buying Telecom Italia's French asset Alice for a sum of around 1 bln eur if it is put up for sale.stephen.jewkes@thomson.comnt/vlbCOPYRIGHTCopyright AFX News Limited 2006. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
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Milan shares higher midday; Pirelli, banking shares in spotlight 