France's Lactalis, the world's largest dairy firm, said on Tuesday it was launching a buyout offer for shares in Italian group Parmalat (PLT.MI) it does not already own, with the aim to delist the company from the Milan stock exchange.
The announcement comes as French media group Vivendi's (VIV.PA) raid on Silvio Berlusconi's broadcaster Mediaset (MS.MI) has rekindled concerns about Italian companies falling into foreign hands.
Lactalis for years denied speculation that it planned to delist Parmalat, which was relaunched in 2005 after going bankrupt following a financial scandal two years earlier, to have free rein in running the group.
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