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Corning Buys Unit of Pirelli

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CORNING, N.Y., Dec. 14 -- Corning Inc. bought 90 percent of Pirelli SpA's optical components and devices business, based in Milan, Italy, for $3.6 billion in cash. The remaining 10 percent of the company was acquired from Cisco Systems Inc. for about 5.5 million shares of Corning common stock....Read full article

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