OLIVETTI DOES NOT EXCLUDE STAKE IN SGS-THOMSON
Ing C Olivetti EC SpA <OLIV.M> does not
exclude the possibility of investing in a semiconductor venture
currently under discussion between Italy's <STET - Societa
Finanziaria Telefonica P.A.> and France's Thomson-CSF
<TCSF.PA>, an Olivetti spokesman said.
    He said that if Olivetti were approached by the two
partners involved and the financial conditions of any proposal
were considered interesting, the company did not exclude the
possibility of investing in the venture. However, Olivetti had
made no decision on any such investment and did not have at its
disposal information to evaluate such a move.
     Stet and Thomson said last Thursday they were negotiating
an accord involving their respective subsidiaries <SGS
Microelettronica SpA> and <Thomson Semiconducteurs> in the
civil semiconductor field.
    They said the accord, once concluded, would be put for
approval to the French and Italian authorities.
    The Olivetti spokesman was responding to a Reuters query
about Italian press reports today saying that Olivetti might
participate in the venture with a two pct stake.
 REUTER
