Pirelli says China investors appeal Italy's golden power ruling

Pirelli & C.

08/06/2026 07:36

    ROME, June 8 (Reuters) - Pirelli PIRC.MI said on Monday China National Tire & Rubber Corporation (CNRC) and its unit  Marco Polo International had appealed, separately, to an Italian regional administrative court against government-imposed conditions linked to their stake in the tyre maker.
CNRC, a unit of China's state-owned Sinochem 600500.SS, is Pirelli's largest shareholder through Milan-based vehicle Marco Polo International, which holds a 34.1% stake in the tyre maker.
The appeals seeks to annul measures set out in a decree issued in April under Italy's so-called "golden power" rules, which allow the government to impose conditions on investments deemed strategic. 
Among the terms set, in April Italy cut the number of representatives Sinochem can name to Pirelli's next board to three from eight, in an effort to avoid U.S. restrictions on the Italian group.
Pirelli said the legal action would not affect "the regular conduct" of the shareholder's meeting scheduled for June 25. 


 (Reporting by Mirko Miorelli, editing by Giulia Segreti)
 ((Mirko.miorelli@thomsonreuters.com))