Italian Prime Minister Giorgia Meloni is weighing measures to reduce Chinese ownership in key companies, aiming to protect national interests, reports Bloomberg.
The initiative focuses on firms deemed strategic, including both private and state-controlled entities. Tiremaker Pirelli, where China's Sinochem holds a 37 per cent stake, is a central case. US regulators have flagged concerns over cyber sensors in Pirelli tires, prompting Italy to downgrade Sinochem's governance role.
Other targets include CDP Reti, which controls Italy's energy grids and is 35 per cent owned by State Grid Corporation of China, and Ansaldo Energia, a major power plant producer. Though Shanghai Electric has cut its stake in Ansaldo to 0.5 per cent, Chinese ties still limit its access to US tenders.
Italy's 'golden power' rule has already been used to restrict foreign influence in strategic sectors. Officials are now exploring options to pressure Chinese investors to divest, especially in areas like energy, transport and technology.
The move comes amid Italy's exit from China's Belt and Road Initiative and growing EU caution over Chinese investment. rome is trying to balance its economic ties with Beijing while aligning more closely with Washington's security concerns.
SeaNews Turkey
The initiative focuses on firms deemed strategic, including both private and state-controlled entities. Tiremaker Pirelli, where China's Sinochem holds a 37 per cent stake, is a central case. US regulators have flagged concerns over cyber sensors in Pirelli tires, prompting Italy to downgrade Sinochem's governance role.
Other targets include CDP Reti, which controls Italy's energy grids and is 35 per cent owned by State Grid Corporation of China, and Ansaldo Energia, a major power plant producer. Though Shanghai Electric has cut its stake in Ansaldo to 0.5 per cent, Chinese ties still limit its access to US tenders.
Italy's 'golden power' rule has already been used to restrict foreign influence in strategic sectors. Officials are now exploring options to pressure Chinese investors to divest, especially in areas like energy, transport and technology.
The move comes amid Italy's exit from China's Belt and Road Initiative and growing EU caution over Chinese investment. rome is trying to balance its economic ties with Beijing while aligning more closely with Washington's security concerns.
SeaNews Turkey
