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Italy's government said on Friday it had taken steps to limit the influence of Chinese investor Sinochem on tiremaker Pirelli, including a mandatory qualified majority for strategic decisions made by the company's board.
Rome's decision comes after Sinochem, Pirelli's largest shareholder with a 37% stake, notified the Italian government in March of plans to update an existing shareholder pact with Camfin, the holding company of Pirelli CEO Marco Tronchetti Provera.
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