Italy Blocks Chinese Control of Pirelli Tyre Giant.
Italy has imposed restrictions on Pirelli's biggest shareholder, Sinochem, to block the Chinese government's access to sensitive chip technology. The move follows similar interventions by Germany and the UK to protect their semiconductor technology. The Italian government used its "Golden Power" regulations to protect Pirelli's Cyber Tyre, which uses chip technology to collect vehicle data, as a critical technology of national strategic importance. The restrictions include a bar on Sinochem devising the company's strategy and financial plans or appointing a CEO.