Marco Tronchetti Provera, president of Pirelli, has been cleared by investigating magistrates of any wrong­doing in connection with a suspected spy ring inside Telecom Italia during his time as chairman, the Italian tyremaker said on Sunday.

However, Pirelli, as a former shareholder in Telecom Italia, is under investigation under Article 231, the law that governs corporate responsibility and holds employers accountable for the acts of their employees.