Italian GPs circle Pirelli

Clessidra and Investindustrial are in exclusive talks over the holding company that indirectly controls Italian tyre manufacturer Pirelli.

If a deal goes ahead, the company's chairman Marco Tronchetti Provera would be able to repay debt and retain control of the company.

Tronchetti Provera controls the business through three holding companies: MTP Sapa, GPI and Camfin.

Talks are scheduled to continue until 15 December.

Clessidra is also currently in the running to acquire the media unit of Telecom Italia. A decision will be made on the company's future ownership in early December, the GP told unquote".

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Marco Lattuada previously oversaw activities including M&A and debt capital markets at the Italian firm

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