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UK-based group bids for Olivetti PC unit

Olivetti's PC unit could be in new hands by the end of January, according to reports in the Italian media.

Several of this morning's press report that a London-based consortium of investors has had a bid for the loss-making division accepted. The group goes under the name of Centenary Corp. and includes Zanussi chairman Gian Mario Rossignolo among its numbers. Varying reports have the selling price at between £70 million and £100 million.

Olivetti declined to comment on the reports.