Pirelli's Tronchetti denies involvement in illegal spying |
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Sun, 21 Jan 2007 17:18
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MILAN (AFX) - Pirelli & C SpA chairman Marco Tronchetti Provera has denied he is involved in illegally spying while at Pirelli and Telecom Italia SpA, where he was once chairman.The strong denial featured in a statement late on Friday and follows reports the Milan prosecutor is investigating allegations that computers at RCS MediaGroup SpA, in which Pirelli has a 4.8 pct stake, were hacked.In an unsourced report on Sunday, La Repubblica said the probe is a factor in increasingly sour relations between Tronchetti and his successor at Telecom Italia, Guido Rossi.Pirelli has said it is in contact with several investors interested in taking stakes in the company's Olimpia SpA unit, which is the largest shareholder in Telecom Italia, with an 18 pct holding.La Repubblica said Rossi has held exploratory talks with France Telecom and Deutsche Telekom on possible international alliances, adding he needs funds to develop Telecom Italia's network.Meanwhile, Tronchetti is talking to private equity funds such as Blackstone as well as Indian and Russian investors, about taking a stake in Olimpia, the newspaper reported.nigel.tutt@thomson.comnt/wjCOPYRIGHTCopyright 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 