China Tries To Take Control Of Pirelli, Italy Says No, No, No
Italian tire manufacturer Pirelli – the primary tire supplier to Formula One – was the target of an attempted takeover by its largest shareholder, Chinese state-owned chemical company, Sinochem, but the maneuver is being blocked by Italy’s government to protect Milan-based Pirelli’s independence. Pirelli was sold for $7.8 billion in 2015 to a combination of […]