Ing. C. Olivetti SpA shares rose almost 2 percent Monday after a management restructuring raised expectations among analysts that the company will sell its unprofitable computer division.
An Olivetti spokesman denied the company had any intention of finding a partner for its computer division or exiting the sector completely.
He said Chairman Carlo De Benedetti has repeatedly said Olivetti intends to stay in the computer business.
Analysts, however, think the company would be better off concentrating on telecommunications and computer services.
Olivetti’s North American operations, headquartered at Liberty Lake, are based on just those businesses. The plant ceased making computers several years ago, although machines shipped in from Italy are checked at Liberty Lake before being delivered to customers.
Olivetti shares rose 30 to 1,730 lire ($1.07).