Focus on Tyres, says Pirelli Shareholder

The investment fund Centaurus Capital, holder of a 3.2 per cent stake in Pirelli & C SpA, has sent a letter to the group asking them to maintain tyres as a primary focus. According to an article published in the Italian newspaper La Repubblica on October 20, the fund is pushing for Pirelli to reacquire the 39 per cent stake in the tyre business it sold last year to a consortium of banks, a purchase that could cost as much as double the 740 million euros originally paid for the share.