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Italy Blocked Chinese Semiconductor Bid, Draghi Says

  • Premier backs call to extend rules to protect Italy companies
  • ‘Golden Power’ protection to cover automotive, steel sectors
Mario Draghi speaks during a news conference in Rome, Italy, on April 8.
Mario Draghi speaks during a news conference in Rome, Italy, on April 8.Photographer: Alessia Pierdomenico/Bloomberg
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Prime Minister Mario Draghi said he backs an extension of state protection for Italian businesses, after revealing that his government recently blocked a Chinese takeover of a semiconductor company.

Draghi told reporters in Rome on Thursday that he’ll support an earlier call by Economic Development Minister Giancarlo Giorgetti for the country’s so-called Golden Powers rules to be extended to the automotive and steel sectors.