Pirelli will come back in MY BAG within four years. To say it is Marco Tronchetti Provera, CEO of the group that has just passed into Chinese hands and chaired by ChemChina's number one Ren Janxin, during an interview with Il Sole 24 Ore. Tronchetti Provera, however, does not go into further details on the listing methods, whether in Piazza Affari, in dual listing or elsewhere: “It would also be desirable in Milan, but it will depend on the markets. It's still too early to tell."
In any case, Pirelli's CEO confirms that he enjoys “all the autonomy to decide when to re-list. I think it will take three to four years to get a company up and running. The consumer part of Pirelli will return strengthened with the participation in the industrial company”.
Furthermore, on the occasion of the re-quotation, the possibility for ChemChina of falling below 51% would remain: "The agreements give full opening to the descent of the Chinese partner".
As for theOpa, Tronchetti Provera declared that the massive membership “was what we expected. There has been a doubling of the capitalization in the last three years. We made a proposal that we thought was correct and the market accepted it”. Finally, the CEO of Pirelli announces the issue of bonds next spring, to refinance the debt following the planned merger with Bidco”
