Italy sets new curbs on China's Sinochem in bid to end governance spat in Pirelli

Pirelli & C.

10/04/2026 20:13

ROME, April 10 (Reuters) - Italy imposed new curbs on China's Sinochem 600500.SS to try to end a governance spat in tyre maker Pirelli PIRC.MI, people familiar with the matter told Reuters.

Pirelli's two largest shareholders, Chinese state-owned Sinochem with 34%, and Camfin, the investment vehicle of Executive Vice President Marco Tronchetti Provera, with 25.3%, have been at the centre of a protracted row.

Italy has ruled that Sinochem is entitled to submit a list of candidates for Pirelli's board renewal comprising a maximum of three members, two of whom must be independent, the sources said.

Italy set a first tranche of prescriptions in June 2023 to limit Sinochem's influence over Pirelli, and the sources said these curbs would remain in place

 (Reporting by Giuseppe Fonte)

 ((giuseppe.fonte@thomsonreuters.com; +390680307711;))