Rosneft buys 13 per cent of Pirelli

Rosneft buys into Pirelli Rosneft has bought into Pirelli

Russian oil major, Rosneft has bought into Pirelli, taking control of 50 per cent of the holding group controlling Pirelli and a 13 per cent share of the tyre maker itself. The purchase makes the Russian group the largest single shareholder in Pirelli. The deal is being characterised as a solidification of the company’s partnership with Rosneft in Russia, which is seen as a access route to the emerging market for the tyremaker. However, Pirelli’s share price had fallen 2.24 per cent in response to the news (correct at time of publication).

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