OLIVETTI DOES NOT EXCLUDE STAKE IN SGS-THOMSON

  Ing C Olivetti EC SpA &lt;OLIV.M> does not
  exclude the possibility of investing in a semiconductor venture
  currently under discussion between Italy's &lt;STET - Societa
  Finanziaria Telefonica P.A.> and France's Thomson-CSF
  &lt;TCSF.PA>, an Olivetti spokesman said.
      He said that if Olivetti were approached by the two
  partners involved and the financial conditions of any proposal
  were considered interesting, the company did not exclude the
  possibility of investing in the venture. However, Olivetti had
  made no decision on any such investment and did not have at its
  disposal information to evaluate such a move.
       Stet and Thomson said last Thursday they were negotiating
  an accord involving their respective subsidiaries &lt;SGS
  Microelettronica SpA> and &lt;Thomson Semiconducteurs> in the
  civil semiconductor field.
      They said the accord, once concluded, would be put for
  approval to the French and Italian authorities.
      The Olivetti spokesman was responding to a Reuters query
  about Italian press reports today saying that Olivetti might
  participate in the venture with a two pct stake.
  

