COURT REJECTS BUITONI APPEAL OVER IRI FOOD UNIT

  An appeal by Buitoni SpA against a court
  ruling that an accord under which it was to acquire Italian
  state food firm SME - Societa Meridionale Finanziaria was not
  contractually binding has been rejected, court officials said.
      An appeal court rejected Buitoni's claim that the 497
  billion lire accord with the state industrial company IRI -
  Istituto per la Ricostruzione Industriale was a binding
  contract. The decision upholds a court ruling of last July.
      Buitoni is controlled by CIR - Compagnie Industriali
  Riunite, an investment company itself controlled by Ing C
  Olivetti EC SpA (OLIV.MI> chairman Carlo De Benedetti.
  

