Italy's INTESABCI has announced that it will be taking a 10% stake in OLIMPIA (controlled by PIRELLI and BENETTON) for no more than EUR 520 million. OLIMPIA is planning to take a 27.7% stake in OLIVETTI (TELECOM ITALIA's majority shareholder). The transaction is currently being investigated by the European Commission's competition services with a view to its authorisation. See IE of 27 and 28 August.