Pirelli denies “formal” talks over sale

Milan, Itay – Italian tire-maker Pirelli has issued a short statement, at the request of Italian Securities and Exchange Commission (Consob), denying that it has held any formal talks about the sale of the company.

The statement, issued 20 March, came following widespread speculation in Italian media that the company is in talks with potential buyers.

Italian Corriere della Sera reported on 19 March that Pirelli was working to bring in possible Asian partners or owners, while other news reports suggested Yokohama Rubber and Chinese firms as possible investors.

Pirelli has not denied holding talks regarding its sale but has rejected making any official move in this regard.

“At the request of Consob, with reference to rumours which have been circulating in the media in recent days … Pirelli states that as of today it has not received any formal communication about the launch of a mandatory tender offer,” said its announcement.