Pirelli Refutes News on Possible RE Unit Takeover

Pirelli & C. SpA has denied a news article, released by Italian financial newspaper Milano Finanza, that the company is considering a possible extraordinary operation such as a delisting or a takeover of its Pirelli RE unit. A press release from Pirelli, made public on November 14, reads in full that “Pirelli & C. SpA, with reference to press indiscretions relating to possible extraordinary transactions regarding Pirelli RE, indicates that at this time there are no such hypotheses under review.” Milano Finanza wrote that Pirelli was considering the possibility of delisting Pirelli RE or launching a friendly takeover of the unit.