Shares in Ing C Olivetti & Co SpA resumed their go-stop progress yesterday – but as on Wednesday, they kept having to be suspended after going limit up rather than down as Roberto Colaninno was duly installed as chief executive in succession to Francesco Caio. Colaninno, who has a background in car components, not computers, is a close ally of former chairman Carlo De Benedetti (CI No 3,002), and traders warned the sharp rise in the share price was more a reflection of short-term speculation in the shares than any vote of confidence in the new chief executive. The new man is considered a De Benedetti clone, a broker in Milan told Reuters.
