Telecom Italia Big ask

Marco Tronchetti Provera wants to wash some of the Telecom Italia tint out of his hair. To succeed, he may have to come to terms with the size of his losing bet on the Italian telecoms operator. The Italian industrialist’s Pirelli group has been trying to sell down its interest in Olimpia, the holding company that sits between the conglomerate and TI. Pirelli ended up with an 80% slice of Olimpia last year when two banks, Intesa and Unicredito, were able to force Pirelli to buy their interests....