Pirelli: Italy prevents China from controlling tyre giant
Italy has taken steps to prevent a Chinese state-owned company from taking control of Pirelli, a huge manufacturer of tires. The decision is one of a number of steps the Italian government has taken to safeguard Pirelli’s independence. With a 37% stake in the 151-year-old Milan-based company, Beijing-controlled chemical giant Sinochem is Pirelli’s largest shareholder….