UPDATE 1-Pirelli likely to cut tyre IPO price 10 pct-source


(Adds details) MILAN, June 29 (Reuters) - Italy's Pirelli is likely to cut by 10 percent the minimum price for the initial public offer of shares in its Pirelli Tyre unit, now set at between 7.40 and 9 euros, a source close to the situation told Reuters. Pirelli plans to list 35.04 percent of Pirelli Tyre in July. "Given current market conditions, the banks working on the listing have decided to cut the price by about 10 percent," the source said on Thursday. "The final decision rests ...

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