The Italian government has decided to impose restrictions on the Sinochem group in order to resolve a governance conflict with the tire manufacturer Pirelli.
Specifically, the authorities reduced the number of Sinochem representatives on Pirelli's board of directors from eight to three members. This measure aims to limit the Chinese group's influence within the Italian company.
In addition, directors linked to Sinochem will no longer be able to hold executive positions within Pirelli, thus strengthening Italian control over the group's governance.
This decision comes amid growing tensions around foreign investment in strategic sectors, but also reflects Rome's desire to comply with international constraints, particularly those related to American restrictions.
The dispute between the two parties concerned the balance of power within Pirelli, of which Sinochem is a major shareholder. The Italian authorities are thus seeking to preserve the group's decision-making autonomy in the face of a foreign state actor.
This intervention illustrates the increased vigilance of European governments towards foreign investment in companies deemed sensitive, particularly in a context of economic and geopolitical rivalries.
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