Mediobanca, Deutsche Bank and JP Morgan are among the banks looking to pick up a role as adviser to potential bidders for Conninental's rubber and tyre business, as a return to one of last year’s largest and most controversial deals promises to throw-up another string of mandates.

The three banks, as well as "other possible candidates," have presented their proposals to Italian conglomerate Pirelli, which is considering a bid for the business, according to a report in Italian business magazine Il Mondo.