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Pirelli & C. S.p.A. (PIRC.MI)
- Investing.com
Pirelli shares slip after China's Silk Road Fund reportedly sells stake
Investing.com -- Milan-listed shares in Pirelli (BIT:PIRC) sank on Thursday after China's state-backed Silk Road Fund reportedly sold off its 9% stake in the Italian premium tiremaker and Executive Vice Chairman Marco Tronchetti Provera raised his holding.
- Reuters
Pirelli investor Camfin boosts stake as Chinese fund offloads 9%
MILAN (Reuters) -Camfin, the second-largest investor in Pirelli, has increased its stake to 22.8% as China's Silk Road Fund sold its 9% interest in the Italian premium tyre maker. Camfin, the vehicle of Italian businessman Marco Tronchetti Provera, said on Thursday it bought a 2.2% stake, strengthening its role as a stable shareholder and reiterating its commitment to supporting the group's industrial projects. Tronchetti Provera, who has led the tyre maker since 1992, is now the executive vice chairman.
- Reuters
Pirelli to focus on new materials, connectivity for future M&A strategy
MILAN (Reuters) -Italy's Pirelli sees M&A opportunities in new materials and connectivity, its CEO said on Wednesday as the company updated its business plan to 2025, focused on an effort to strengthen its leadership in high-value tyres. Chief Executive Andrea Casaluci told analysts Pirelli could accelerate its M&A strategy in the future. "This is opening up opportunities to increase the percentage of biobased and recycled materials, not only natural rubber".
