Italy Delays Decision on Probe Into Chinese Influence at Pirelli
An employee inspects an automobile tire at the Pirelli & Co. SpA production plant in Merlo, Argentina.
Photographer: Erica Canepa/BloombergItaly is delaying a decision on whether Pirelli & C. SpA’s largest investor, state-backed Sinochem International Corp., breached rules designed to limit China’s influence over the tire manufacturer.
Giorgia Meloni’s government extended the deadline for an administrative ruling by 60 days to July 31, because the “considerable amount of information gathered requires careful assessment,” according to a document seen by Bloomberg.