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Italian Prime Minister Giorgia Meloni addressing a press conference. His government has invoked national security concerns about Sinochem’s investment in Pirelli © Martin Divisek/EPA-EFE/Shutterstock
Italy has stripped China’s Sinochem of its influence as the largest shareholder in Pirelli, removing its right to appoint a chief executive or set the tyremaker’s strategy in response to concerns of interference by the Chinese state.
Italian Prime Minister Giorgia Meloni’s government has invoked national security concerns about the potential for abuse of Pirelli’s chip technology, as well as interference from the Chinese Communist Party, to justify new sanctions on Sinochem, which has business with holds a 37 percent stake.
The details of the sanctions come after an unprecedented announcement from the Italian government on Friday night that it would implement a “network of measures to protect Pirelli’s independence”.
Read more at Sinochem and Pirelli,
Italian Prime Minister Giorgia Meloni addressing a press conference. His government has invoked national security concerns about Sinochem’s investment in Pirelli © Martin Divisek/EPA-EFE/Shutterstock
Italy has stripped China’s Sinochem of its influence as the largest shareholder in Pirelli, removing its right to appoint a chief executive or set the tyremaker’s strategy in response to concerns of interference by the Chinese state.
Italian Prime Minister Giorgia Meloni’s government has invoked national security concerns about the potential for abuse of Pirelli’s chip technology, as well as interference from the Chinese Communist Party, to justify new sanctions on Sinochem, which has business with holds a 37 percent stake.
The details of the sanctions come after an unprecedented announcement from the Italian government on Friday night that it would implement a “network of measures to protect Pirelli’s independence”.
Read more at Sinochem and Pirelli,
