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my $s = do {local $/=undef; <DATA>};
while( $s =~ s#<span style="(font-weight: bold;|font-style: italic;|te
+xt-decoration: underline;)">(?!.*?<span)(.*?)</span>#span2tag($1,$2)#
+sgei ){};
...
<span style="font-weight: bold;">test
  <span style="font-style: italic;">text</span>
  <span style="text-decoration: underline;">for</span> bolding</span>,
+ underlining and italicizing text.<br />

my $s = do {local $/=undef; <DATA>};
while(1){
...
  $matched ||= $s =~ s#<span style="text-decoration: underline;">(?!.*
+?<span)(.*?)</span>#<u>$1</u>#sgi;
  last unless $matched;
}