Meloni seeks to shrink Chinese holdings at key Italian companies

Giorgia Meloni’s government is considering plans to curb Chinese investors’ holdings at key companies to avoid potential tensions with the US, Report informs via Bloomberg.

Italy’s efforts would involve firms that are considered strategic, both privately held and state-controlled, according to people familiar with the matter.

One of them is the tire manufacturer Pirelli, where China's Sinochem owns 37% of the shares. The US has already considered restrictions on the sale of the company's products due to Chinese participation, and Rome is studying options that could force the investor to sell its stake. The Italian authorities also intend to reduce the presence of Chinese shareholders in CDP Reti, which owns controlling stakes in Italy's energy networks, and in Ansaldo Energia, one of the largest producers of power plants.

There are currently about 700 companies with Chinese investors in Italy, but the government's attention is focused on large enterprises in strategic sectors - energy, transport, technology and finance. The Chinese Foreign Ministry said that cooperation between China and Italy is mutually beneficial and should not be subject to interference from third parties.