Today's news also points to a possible JV, spin-off, or buyout. The question is, who could it be?

In previous NRs and interviews BT has mentioned the names of the big FS manufacturers, so it could well be one of these. 

But none of the global manufacturers are Italian. And Polvere is an Italian word. And that too a relatively uncommon Italian word (well, to non-Italian speaking people like me anyway).

So the question is, why an Italian name? BT could have picked an English name. Or a French name. Or a German name. Or even a Japanese name (Tokuyama is a big manufacturer).

But he didn't.

And he's aften said that a non-FS manufacturer is very interested in entering this business.

Could it be an Italian player?

[chuckle] - where are Holmes and Poirot when you need them. :- ).

Brgds and GLTA,

A-G