Czech billionaires eye stake in Italian tyre maker Pirelli

Czech businessmen Michal Strnad and Pavel Tykač are interested in buying part of the stake held by China's Sinochem in the Italian tyre manufacturer Pirelli, the Italian daily Corriere della Sera wrote on Friday, citing informed sources.

The two investors are reportedly looking to acquire a 10 to 20 percent stake in the company. At current market prices, Pirelli has a market value of around 7.5 billion euros, or roughly 181 billion Czech crowns.

The report says the talks are still at an early stage, with differing views on the company's valuation between the Czech investors and Sinochem seen as the main obstacle to a deal.