Pirelli shareholder unloads 81 million shares

Nov. 21, 2007

One of Pirelli & Cie SpA's shareholders, Capitalia Partecipazioni SpA, has sold some 81 million shares in the company to other Pirelli shareholders.

The shares equal 1.56% of Pirelli's ordinary share capital.

"The price was 0.826 euros for each share, equal to, in conformity with what was established by the Shareholders' Agreement, the average stock market price registered in the three months preceding the sale offer," say Pirelli officials.