Implementation of the agreements between the CIR Group and Fininvest: Mondadori is split up. CIR sells its Mondadori shares and acquires control of Espresso, Repubblica and Cartiera di Ascoli (later merged), Finegil (local daily newspapers), Cima Brenta and GMP. In 1997 Espresso incorporates Repubblica and takes the name of Gruppo Editoriale l'Espresso.


Acquisition by the Espresso Group of Radio Capital, which with the other radio stations Italia Radio (acquired in 1998 and renamed M2O) and Radio Deejay will make the radio sector of the Espresso Group the nationwide leader among private broadcasters in terms of listeners. November - Cerus sells Valeo to CGIP - Compagnie Générale d'Industrie et de Participations


First half - Cerus distributes to its shareholders a capital repayment of 1.250 billion Italian lira,of which 550 to CIR)
June-July - CIR launches a total bid for the shares of  Sasib.


Sasib is merged by incorporation into CIR after the railway signalling business has been sold off. The remaining former Sasib activities are subsequently reorganized and will be sold over the following years. Year end - Acquisition of Socalbe (food speciality sector) which is sold profitably three years later. The Espresso Group acquires two other important local newspapers: "Il Piccolo" of Trieste and "Il Messaggero Veneto" of Udine


The company Energia is established (71.5% controlled by CIR with a 26% stake held by the electricity operator Verbund) and starts operating the following year. Year end - The Sogefi Group acquires 100% of the Allevard Ressorts Automobile group (suspension components) from the French group Usinor.