Olivetti will sell PC unit this year

Olivetti UK was this morning tight-lipped over reports that it will finally sell its loss-making PC division, ending months of rumour and speculation.

Reports in today's financial press say the Italian giant will sell its PC unit and part of its Omnitel cellular communications business in order to reduce crushing debts. The Financial Times quotes recently appointed chief executive Robert Colaninno saying the PC business "is our number one priority sale". Completion of the sale is expected before the end of the year.

Olivetti UK said it doesn't plan to comment on the proposed sale today.

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