MILAN--Italian tire maker Pirelli & C SpA (PC.MI) said
Tuesday that it renewed its shareholders' agreement until April 15,
2014.
The agreement, which had been set to expire this year, has been
renewed with no changes.
Participants in the pact--which include Mediobanca SpA (MDIBY,
MB.MI), Assicurazioni Generali SpA (G.MI), Intesa Sanpaolo SpA
(ISNPY, ISP.MI), Fondiaria Sai SpA (FSA.MI), Camfin SpA (CMF.MI),
Allianz SpA and Edizione Srl--agreed to renew the agreement for
only one additional year, versus the previous pact's three-year
period..
On Monday, Assicurazioni Generali Chief Executive Mario Greco
said the insurer would be wiling to remain in Pirelli's
shareholders' pact only if it were shortened to one year. Generali
is among Pirelli's largest shareholders with a 4.41% stake.
Write to Manuela Mesco at manuela.mesco@dowjones.com
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