Italian state telecommunications holding company Stet SpA has been juggling some of its shareholdings with other state bodies that, like it, come the umbrella Istituto per la Recostruzione, IRI: it has sold 90% of Italy’s 50% of the SGS Thomson Microelectronics BV chip joint venture to its parent IRI and the other 10% to Finmeccanica SpA state heavy engineering company, which also bought its 50.19% of air traffic control, radar and defence systems manufacturer Selenia SpA, its 51% holding in software developer Opti.ME.S SpA, and interests in two instrumentation businesses; all the sales brought in a total of $461m.
