Pirelli’s Commitment to Telecomms Becomes Clearer

Marco Tronchetti Provera, boss of both Telecom Italia (TI) and Pirelli, is to force the merger of TI with its daughter company Telecom Italia Mobile (TIM), Italian media sources are reporting. According to the Italian media, TI is aiming to submit an official requirement for the 44 per cent of TIM, which is still in circulation, next week. The cost is estimated at 19 billion euros. Olimpia Holding is TI’s dominant shareholder, while Olimpia itself is controlled by Pirelli.