Giorgia Meloni’s government would be evaluating measures to reduce the participations of Chinese investors in companies considered strategic, with the aim of avoiding possible tensions with the United States. This is stated by the American site Bloombergciting informed sources on the dossier, according to which the attention of the executive is aimed at both private companies and state -controlled groups. Like Pirelli, Ansaldo and Cdp Reti.
The case of Pirelli
In the Pirelli group there is the Chinese state company Sinochem International Corp., which holds a 37%participation. The sources asked by Bloomberg explain that the company that produces tires has been the subject of “a possible restriction on sales in the United States due to Chinese property”. For this reason we tried to limit the role of the investor’s governance.
The Italian government, in essence, would be evaluating options that could lead the Chinese investor to sell. Overall, about 700 Italian companies that count on the support of Chinese investors, but the government would focus almost exclusively on large groups and above all on strategic sectors such as energy, transport, technology and finance.
From Ansaldo to MSC, the other companies
The Pirelli dossier is only the most evident of those on the executive table, which would also have CDP networks, the company that holds control participations in Italian energy networks (Snam, Italgas and Terna) and which is owned to 35% by a subsidiary of the State Grid Corporation of China, with two representatives on the board of directors.
Another cited case is that of Ansaldo Energia, one of the major worldwide worldwide producers: the presence, although residual, of the Chinese Shanghai Electric (0.5%) would prevent the company from participating in some competitions in the United States.
Not only that: the Asian giant of expeditions Cosco aims to enter the Cordata led by Gianluigi Aponte’s MSC for the purchase of 43 ports from the Hong Kong Ck Hutchison group. The operation, of 23 billion dollars, is currently blocked.
Beijing’s hope
A spokesman for the Chinese foreign ministry said that “cooperation in investments between Italy and China brings mutual benefits” and the hope is that Italy continues to guarantee fair treatment to Chinese companies. The spokesperson underlines how the Chinese government has always “supported Chinese companies in international cooperation on the basis of market principles” and now “hopes that Italy offers a fair entrepreneurial environment, just and not discriminatory for Chinese companies and protects effectively their legitimate rights and interests”. But according to some interpretations, Giorgia Meloni’s decision of the government could also be aimed at maintaining good relations with Donald Trump, after the clash between the USA and China of recent days.
In any case, the Italian strategy towards Beijing reflects a wider problem: Europe, which after the 2008 financial crisis had welcomed Chinese investments, today tries to reduce the risks related to addiction to foreign capital. And the intervention on the Pirelli case is emblematic: to defend Italian corporate sovereignty, preserve access to strategic markets (such as the USA) and modulate foreign influence in critical sectors.
