Olivetti’s Caio To Meet With Investors On Olivetti Results
MILAN (AP) _ Olivetti managing director Francesco Caio will meet next week with investors about the group’s half-year results, which were questioned by a top executive who resigned in protest.
Caio will meet with members of the Milan financial community on Sept. 16, followed by those from London in subsequent days, the company said Tuesday.
Olivetti said last week that it lost 440 billion lire in the first half. Director general Renzo Francesconi suggested that Olivetti’s actual financial situation could be even worse and resigned Wednesday.
While the company’s current management has defended the validity of first half figures, Olivetti’s stock fell 20 percent Monday, the first day the shares were available to trade after Francesconi made his claims.