China Targeted Milan Semiconductor Firm Before Draghi’s Veto
- Draghi’s government stopped Shenzhen Invenland takeover of LPE
- Concerns about protecting key asset from foreign interest
This article is for subscribers only.
The target of a Chinese takeover bid blocked by Italian Prime Minister Mario Draghi last week was a small semiconductor firm based near Milan.
Shenzhen Invenland Holdings Co. notified Italy’s government that it had acquired a 70% stake of LPE SpA on Dec. 21, 2020, according to a decree signed by Draghi and the development ministry opposing the takeover dated March 31. It was seen by Bloomberg and authenticated.