UPDATE 3-Pirelli likely to cut tyre IPO price 10 pct-source

Newswire

(Adds Pirelli comment, comparative valuations, order details) By Stefano Rebaudo MILAN, June 29 (Reuters) - Pirelli is likely to cut the price range for the public offering of its tyre business by 10 percent, a source said, wiping 200 million euros ($250.9 million) off its value as a market downturn quashes interest. The Italian company, whose investments run from real estate to telecommunications, had set the price range for Pirelli Tyre's offering at 7.40 euros to 9.0 euros. A ...

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