Benetton family buys a stake in Pirelli & Co

Article Abstract:

Edizione Holding SpA, the holding firm of the Benetton family, announced that it has acquired a 4% stake in Pirelli & Co., the main holding firm for tire and cable company Pirelli SpA. An Edizione Holding spokesman said the company has paid about 100 billion lire to buy the shares on the stock market between June 1998 and July 1998. The acquisition was purely an investment decision and Edizione has no intention to increase it, added the spokesman.

Comment:

Acquired a 4% stake in Pirelli & Co., the main holding firm for tire and cable company Pirelli SpA, for about 100 bil lire

Acquisitions & mergers, Financial Holding Companies, Offices of Bank Holding Companies, Edizione Holdings S.p.A., Article, Pirelli and Co.

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First part of the ENEL-stake sale is likely by November

Article Abstract:

Italy is expecting to sell off the first portion of ENEL SpA by the middle of November 1999. ENEL is a state-owned electricity utility. Italian Treasury Minister Giuliano Amato made the annoucement to a parliamentary commission. Mr. Amato acknowledged that between 10% to 15% of ENEL would be sold. This represents the largest portion of Italy's privatization program in 1999.

Comment:

Italy expecting to sell off first portion of ENEL by middle of November 1999

Electric Power Generating, Electric Power Generation, Electric utilities, Securities, Enel S.p.A.

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