Chinese Investors Appeal Italy’s Curbs on Pirelli Stake
Pirelli’s Chinese shareholders are challenging Italy's limits on their stake ahead of an annual shareholder meeting on June 25.
TL;DR
- Chinese investors are appealing Italian government restrictions on their Pirelli stake.
- The appeals were filed on June 7 by China National Tire & Rubber Corporation and Marco Polo International.
- The restrictions were imposed via a government decree issued under Italy’s Golden Power rules.
- The Golden Power rules allow the government to review foreign sectors and impose conditions for national security.
- Pirelli stated the legal challenges will not impact the shareholder meeting on June 25.