Pirelli & C. S.p.A. is moving toward resolving internal tensions involving its principal shareholder, China’s state-controlled Sinochem Holdings, according to a statement made on Friday by the company’s executive vice chairman and de facto chief, Marco Tronchetti Provera.
Speaking at a business conference in Milan, Tronchetti Provera indicated that progress is being made in addressing the dispute between Sinochem—which holds a 37% stake in the Italian tyre manufacturer—and Camfin, Pirelli’s second-largest shareholder, which he also controls.
Camfin has raised concerns that significant Chinese influence within Pirelli could potentially hinder the company’s strategic ambitions, particularly its expansion into the United States—an increasingly sensitive market amid tightening geopolitical scrutiny of Chinese investments.
“We are on the right track toward a positive resolution,” Tronchetti Provera told attendees, suggesting that a settlement between the stakeholders may be imminent.
The dispute has drawn attention in both industrial and diplomatic circles, as it highlights the broader complexities facing European firms with major Chinese shareholders amid evolving global trade and security dynamics.
Pirelli, a global leader in premium tyres, has been navigating a delicate balance between leveraging international partnerships and safeguarding its operational autonomy in key Western markets.
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