Milan -- A dominant group of Pirelli shareholders has extended its agreement until 2010. The group, which controls 46 percent of Pirelli said on Wednesday that none of the participants wished to leave.
In a statement, Pirelli said, "none of the members of the Company's Shareholders' Agreement manifested a will to withdraw by the contractually determined deadline of 15 January 2007. The Agreement therefore remains in force, with the same composition, until the new deadline of 15 April 2010."
The biggest shareholder in the pact is Camfin with 19.63 percent. Camfin is controlled by Pirelli chairman, Marco Tronchetti Provera. Other participants include Edizione Holding which is controlled by the Benetton family with 4.45 percent and Mediobanca, also with 4.45 percent.
Camfin is controlled by , who is chairman of Pirelli.
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Press release from Pirelli