Sinochem challenges Italian golden power restrictions on Pirelli before shareholder meeting (decode39.com)

• Sinochem files court appeal against Italy's golden power restrictions on Pirelli.
• Restrictions limit Chinese shareholder to three board candidates, bar leadership roles.
• Pirelli's June 25 shareholder meeting to proceed as planned despite legal challenge.

"Sinochem, via CNRC and Marco Polo International Italy, filed appeals with Lazio regional administrative court seeking annulment of Italy's golden power decree. The decree restricts Sinochem's influence in Pirelli: max three board candidates, cannot be chairman/vice chairman/CEO, excluded from leading committees. The challenge precedes Pirelli's June 25 shareholder meeting to renew the board. Sinochem holds 34% of Pirelli. The dispute relates to Pirelli's Cyber Tyre technology and U.S. market access concerns."