Pirelli buys back from Cisco 10% Submarine Telecom Systems

Milan, 12 January 2004 - Pirelli today bought back from Cisco Systems the 10% stake of Pirelli Submarine Telecom Systems sold in 2000 for an amount of approx. 75 million dollars. The operation was completed after Cisco Systems exercised its option - stated in the agreements signed on 3 August 2000 - to sell such stake to Pirelli for the same amount. After this operation, Pirelli fully owns Pirelli Submarine Telecom Systems.

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