MILAN, Oct 17 (Reuters) – Michele Ferrero, Italy’s richest
man and the owner of a global chocolate and confectionery
empire, has always resisted the temptation to allow outsiders to
buy into his company.
In a statement on Thursday, his son Giovanni, the Chief
Executive of the Ferrero group, rejected suggestions the Italian
company had been approached by larger Swiss competitor Nestle
and said Ferrero was not for sale.
MILAN/ROME, Oct 7 (Reuters) – Bowing to European Union
requests, loss-making Italian bank Banca Monte dei Paschi di
Siena unveiled thousands of new job cuts on Monday and
asset sale plans in a bid to return to profit and stave off
Italy’s third-largest lender by assets had received 4.1
billion euros ($5.57 billion) in special state loans earlier
this year after the euro zone crisis and a derivatives scandal
brought it to the brink of collapse.
#MontePaschi to unveil its tough new restructuring plan later today. It needs to buy in investors to avoid nationalisation. #Italy #MPS
MILAN (Reuters) – Italy’s state investment firm is taking over one of the country’s top power companies to prevent yet another part of Italy Inc from falling into foreign hands.
The country’s top telephone firm recently became Spanish, and its flag carrier is poised to become French.