Pirelli to be sold to Chinese company
Italian tyre-maker Pirelli is to be sold to a consortium led by the state-owned China National Chemical Corp (ChemChina) in a deal worth €7.4 billion.
Pirelli’s chief executive Tronchetti Provera, one of Italy’s best-known businessmen, said that the deal was good for the future of Pirelli and guarantees its global growth. He ruled out the likelihood of a counter offer and said a possible link-up between Pirelli and Bridgestone would be “a disaster”....
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The way we did business a few months ago may never return – so the opportunity is to make changes that will both aid recovery and set us up well for our new futures