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March 20, 2015 02:00 AM

Pirelli denies formal talks of sale

European Rubber Journal Report
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    MILAN, Italy—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.

    “At the request of Consob, with reference to rumors which have been circulating in the media in recent days—in particular those contained in the article published by Corriere della Sera On March 19th—Pirelli states that as of today it has not received any formal communication about the launch of a mandatory tender offer,” Pirelli's full statement read.

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

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

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