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28 May 2012

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Italy's Prelios reduces losses, sheds assets

Italian listed real estate management firm Prelios, formerly Pirelli Real Estate, cut its net loss to E95m in 2010 from E104m a year earlier but expects to return to profit this year. It plans a further E1.5bn asset sales in 2011 after offloading E1.6bn of assets in 2010.

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