Pirelli, this is how Tronchetti Provera disavows the Chinese in order to be American

Yesterday, the board of directors did not dissolve the Sinochem knot, the Beijing partner that could harm the group on the US market. Black smoke. Pirelli's board of directors has not reached agreement on the new governance rules that should lead to the Chinese taking a step backwards from Sinochem. Hence the d...

The board: a solution is needed. The option of a new partner to balance the Chinese. Among the scenarios, there is also that of a reduction in the current shareholding of 37% in the hands of Sinochem, in order to rebalance the weights.

Pirelli confronts Chinese influence as scenarios emerge over Sinochem stake

Management’s deliberation. Pirelli’s management is working to find a shared solution to the company’s governance challenges, particularly regarding the oversized influence of its major Chinese shareholder, Sinochem. Pirelli’s management “will continue to work on finding a solution that will allow the company to adapt to the new regulations of the American market, as it does in all the markets in which it operates,” said CEO Andrea Casaluci on T…

Pirelli, this is how Tronchetti Provera disavows the Chinese in order to be American

Pirelli is trying to reduce Sinochem's shareholding so as not to be hindered in the United States, which has banned Chinese technologies for connected vehicles. Marco Tronchetti Provera plays American and criticizes the Chinese ("they are dangerous"), but it was he who opened the doors of Pirelli and Camfin to him. All the details Pirelli, the tire company led by Marco Tronchetti Provera, is looking for a way to reduce its shareholding in the Ch…