Net financial position (cash plus securities less short and long term debt) was Lire 406.
Operating income for the second quarter of 2000 reached Lire 68.
While the currency traded at around 3,000 lire
to the pound last year, 1 [pounds sterling] will now only buy 2,720 -- 2,740 lire
The most significant loans in the Mezzogiorno concerned TAV, the high-speed rail infrastructure between Rome and Naples (the Florence-Bologna section was also financed by the EIB), a 530 billion Lire
loan for a first phase of works on the Salerno-Reggio Calabria motorway, and financing worth 150 billion Lire
for the Naples underground.
5,000,000 stock appreciation rights (SARs), with a minimum value of 35 billion lire
Under the terms of the deal, Pirelli is to buy Teleco Cavi in Italy, a subsidiary of Siemens listed on the Milan Stock Exchange, following an offer by Siemens for outstanding Teleco ordinary shares at 8,800 Lire
each and preferred shares at 7,200 Lire
Nasdaq: CCIL) announced today that Omnitel Pronto Italia, the Italian joint venture that is the second GSM cellular telephone licensee in Italy has informed CCIL that retroactive to February 1997 Italy's Posts and Telecommunications Ministry has announced a reduction of per minute interconnection fees from 200 lire
to 140 lire
(from approximately $.