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Analysis: Fund investors may puncture tyremaker Pirelli's hopes on IPO price

Reuters  |  MILAN/LONDON 

By Maria Pia Quaglia, Elisa Anzolin and Simon JessopMILAN/LONDON (Reuters) - Tyremaker Pirelli may struggle to get the 9 billion-euro ($11 billion) valuation sought by its owners on its return to Milan's stock market next month, with several fund managers saying they will not invest if it is valued at more than 7.5 billion euros. China National Chemical Corporation (ChemChina), which bought a controlling stake in the maker of Formula 1 racing tyres two years ago, is with two other shareholders selling up to 40 pct of Pirelli in a public offer, seeking a valuation of up to 9 billion euros, ...

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First Published: Thu, September 14 2017. 20:50 IST