OTHER NEWS - May 17, 1993

Olivetti Chief Admits Payoffs: One of Italy’s leading businessmen told prosecutors that his company paid more than $7 million to political parties in exchange for telecommunications contracts, Italian state television reported. Carlo De Benedetti, chairman of Olivetti, was questioned by prosecutors as part of a nationwide probe into corruption. More than 1,000 politicians, businessmen and executives are under arrest or suspicion in the probe. Most of the cases involve kickbacks to politicians or political parties in exchange for public works contracts. De Benedetti said the kickbacks were necessary to keep the computer maker competitive in Italian business, state TV reported.