Pirelli Partner Undecided about Olimpia

Following recent news that Pirelli & C. SpA is contemplating selling its entire stake in Olimpia, its partner in the joint venture company, Edizione Holding Spa, has announced it has not ruled retaining its stake in the company even if Pirelli pulls out. Edizione, a holding company owned by the Benetton family, owns a 20 per cent share in Olimpia, with the remainder in Pirelli’s hands.

“We have a pact with Pirelli and in case of sale we have to sell along with Pirelli.” said Edizione shareholder Gilberto Benetton. “But unlike Pirelli, we are willing to assess other projects; it depends on who buys Pirelli’s stake. We are not running away,” he added. Pirelli has announced that, on March 12, it gave a mandate to chairman Marco Tronchetti Provera to sell its stake in Olimpia.