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Updated · Bloomberg · Apr 10Italy Restricts Sinochem’s Influence on Pirelli Board to Safeguard Strategic Assets
3 articles · Updated · Bloomberg · Apr 10
- Italy has limited the number of directors China’s Sinochem can appoint to Pirelli’s board under new Golden Power measures.
- Sinochem, holding 34.1% of Pirelli, may now only nominate three directors—two of whom must be independent—and cannot hold senior positions.
- The move aims to protect Pirelli’s strategic technologies and ensure continued access to the US market amid concerns over Chinese ownership.
How will Italy's 'Golden Power' precedent reshape foreign investment rules across the entire European Union? Which 'smart' products with Chinese components face a potential ban in Western markets next? Is Pirelli's 'Cyber Tyre' the first casualty in a new US-China tech war fought on European soil? How are data privacy rules for 'spy cars' applied differently to domestic vs. foreign companies? With Western markets closing, where can China's massive tech investment funds now find a home? Will the push for 'technological autonomy' fragment the global auto industry and raise consumer prices?