ITALY: HdP Eager To Sell Valentino Amid Huge Losses
Fashion and media holding group HdP on Monday posted a consolidated net loss of 232.1 million euros for 2001 compared to a net profit of nearly 40 million euros in 2000. The group said the 140 million euros restructuring charge for the planned sale of its unprofitable fashion holdings, including Valentino, were primarily to blame for the huge losses.