The Milano Finanza website reported investors in Prelios, which is owned by tyre maker Pirelli and banks UniCredit and Intesa Sanpaolo, had agreed to sell their stakes in Prelios to CEFC.

The report said the sale would trigger a mandatory takeover bid on remaining Prelios' shares which would be launched at a premium of 20-25 percent to current market prices.

Prelios declined to comment. CEFC was not immediately available for comment.

Following a request by market regulator Consob, Intesa, UniCredit and Pirelli said in a joint statement that the press report was a "matter of imprecise reconstructions of operations which are under negotiation but, at the moment, have not been realized and are not certain".

The three companies added that should an agreement be reached, they would inform the market promptly.

(Reporting by Elisa Anzolin; editing by Susan Thomas)