Pirelli set to declare end of Chinese investor’s control over governance, paper says

Milan (Reuters) will receive an agreement between the shareholders on Monday to confirm that the biggest investor of the group, China’s state synachum does not control the tire producer.

Pirelli’s Chinese and Italian shareholders have collided with the band’s management, and Sinochem imposes an obstacle to the ambitions of Pirili’s US expansion.

According to the IL Messaggero, while Sinochem will maintain its 37% share in Pirelli, it will no longer be considered for the purpose of regulating the company’s control.

The agreement will be announced that Sinochem does not dominate the company’s management, given that decisions are made by government, Il Mesaggero reports.

Pirelli and Sinochem were not immediately available to comment.

At the beginning of this month, Pirel stated that he planned to invest further in the United States because he tried to smooth the tension associated with having a sinech.

Firelli’s advice met the company’s financial report on Monday for 2024. Originally scheduled for the end of March, the board meeting was postponed under the extended tension between leading investors.

(Report on Valentina Za and Giulio Piovaccari; Editing Aidan Lewis)