Pirelli continues to focus on core business

ERJ staff report (RD)

Milan – Pirelli & C. SpA, an Italian tyre manufacturer, is continuing to focus on its core tyre business as part of its 2009-2011 industrial plan with the announcement it is selling its stake in Alcatel-Lucent Submarine Networks, a company operating in submarine telecommunications systems, back to Alcatel-Lucent.

The sale, for an overall value of Euro 56 million, will occur in three stages by the end of 2009, the company said in a 24 March statement.

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