Word: agnellis
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...real-estate earnings into unprecedented wealth in the 1980s after a sweet government deal helped him launch his private media empire. Sixteen months after he moved into the Prime Minister's office, Berlusconi quietly remains Italy's wealthiest man. But long before Berlusconi joined the political fray, Giovanni Agnelli, the patriarch of the Fiat car dynasty, was a subtler symbol of Italy's unique brand of state-stewarded capitalism. Praised around the world as the man who brought Italian industry into the big leagues in the 1960s and 1970s with mass production of simple but stylish automobiles, Agnelli...
...which will buy the U.S. beer giant for $5.6 billion. The deal creates the world's second-largest brewer. On the road again Italian banks agreed to help refinance Fiat's chronic 16.6 billion debt to keep it from junk status. But Fiat's problems continue, and the controlling Agnelli family admitted it may need to sell the auto division. The Norse force Norway's largest bank, Den Norske Banke, agreed to buy the country's top insurer, Storebrand, for $1.96 billion in cash and stock. The deal should help fend off foreign predators. Pump up the margins France...
...Benedetti. But with the help of Cuccia and the center-left government of Massimo D'Alema, which gave a green light to the takeover, Colaninno threw a wrench into Italian family-style capitalism. And in the process, he managed to step on the feet of De Benedetti and the Agnelli family, two formidable foes. He would also run into a potential conflict with future prime minister Silvio Berlusconi, when he got control of TeleMonteCarlo...
...Giancarlo Galli, a biographer of both Cuccia and the Agnelli clan, notes that for a short time before Colaninno emerged, the Agnelli family had virtual control of Telecom with just .8% of shares. "Italian finance has never really functioned with money," he says. "It's been more like trading baseball cards...
...Berlusconi government, which Agnelli has supported, has officially remained neutral in the Telecom Italia deal, although a few ministers expressed satisfaction that the firm would remain in Italian hands, as have most of the Italian media, perhaps no surprise since most of the major papers are largely controlled by the main players in the deal. "Maybe the old-style is better," muses Galli. "But it seems to me that we've brought the king back." And the crown prince as well...