Reported 18 days ago
Italy has initiated an administrative procedure against China's Sinochem, the largest shareholder of Pirelli, over potential violations of governance rules meant to safeguard national strategic assets. This action is based on 'golden power' regulations, which impose restrictions on information access and decision-making thresholds. Sinochem, owning a 37% stake in Pirelli, denies any wrongdoing, while the Italian government has 120 days to reach a conclusion.
Source: YAHOO