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Burning rubber

29 June 2006 By John Foley

Owner Marco Tronchetti Provera needs E1.6bn to pay off banks and investors who helped him out after his splurge on Telecom Italia. Pirelli Tyre won t raise anywhere near that on its own. Besides, it only starts to look cheap a full 10% below the bottom of the range. Owner Marco Tronchetti Provera needs E1.5bn to pay off banks and investors who helped him out after his splurge on Telecom Italia.

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