Italy Wants Bigger Share of Investments by Semiconductors Firm
- Rome is opposed to new three-year term for CEO Jean-Marc Chery
- France and Italy have a history of acrimony on business ties
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Giorgia Meloni’s government is demanding that a bigger share of investments made by chipmaker STMicroelectronics NV go to Italy, the latest sign of tension over business ties with France.
Italy, which owns a stake in the semiconductor company, is opposed to a new three-year term for Chief Executive Officer Jean-Marc Chery, according to people familiar with the matter who spoke on the condition of anonymity. Italy believes that the company’s investments favor France, the people said.