Pirelli to sell cables division for Euro 1350 million -- report

Milan--A report in the italian financial daily, Finanza & Mercati is reporting that Pirelli & C SpA is in the final stages of negotiating the sale of its cable operations. The report said Pirelli is talking to Goldman Sachs, who is expected to buy the unit and assume all debt for a consideration of Euro 1350 million, of which around Euro 950 million will go to Pirelli.

The report said the deal is likely to be finalised early next week.

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