Foreign shareholders of Ing C Olivetti & Co SpA are terrified at the prospect of yet another rights issue, and do not support plans to sell off some of its stake Omnitel-Pronto Italia SpA. They would prefer a foreign group to take a strategic stake to help re-finance the troubled loss-making Italian group, Reuter reports. Olivetti shares hit a new record low of 435 lire. Separately, Ing C Olivetti & Co SpA said it was seeking some $65m lire in damages in a suit against former director Renzo Francesconi, who last month publicly questioned the validity of the first half results that were put out on September 3.
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