MILAN, July 25 (Reuters) - Italy's stock market regulator Consob approved a friendly 0.80 euro-per-share takeover offer for the holding company that controls the world's fifth-largest tyremaker Pirelli, the bidder said on Thursday.
The friendly bid will start on August 12 and end on September 13.
The bid for Camfin, made by Pirelli Chairman Marco Tronchetti Provera, 65, and a group of allies, tightens his grip over the company in which he is the largest shareholder.
After the bid's completion this fall, Camfin will be delisted and Pirelli will be controlled by Tronchetti, private equity fund Clessidra, and Italian banks UniCredit and Intesa through an unlisted holding company called Newco. (Reporting by Jennifer Clark, editing by Silvia Aloisi)