While, for the most of us, a share certificate is just a piece of paper, those in business in Italy invest them with rather more juicy symbolism. Struggling to dispose of shares after France Telecom nipped ahead of it in the privatization stakes, the Italian Treasury had hoped to place 15% of the shares on Telecom Italia with a stable core of investors but even rich businessmen there have blanched at the cost of a stake even though they dream of owning some stock. Flavio Pasotti, chairman of Italy’s small business Confederation told the Wall Street Journal: It’s like thinking you can get a date with Claudia Schiffer.
