Pirelli comments on acquisition speculation

At the request of Consob, the Italian Securities and Exchange Commission, Pirelli has issued a short statement regarding claims that company chairman Marco Tronchetti Provera is working with an Asian partner with a view to it partially or fully acquiring Pirelli.

“Pirelli states that as of today it has not received any formal communication about the launch of a mandatory tender offer,” wrote the Italian tyre maker in the release it issued this morning.

At the start of last year, Marco Tronchetti Provera expressed his desire to step down as Pirelli’s chief executive and sell his family’s shareholding in the company within the coming two years.