Textbook-level case Chinese takeover of Italian military drone company

The italian government is investigating. The acquisition of a military drone company. In the country by chinese investors. Three sources said. The acquisition was not subject. To official review before the deal. But the italian government believes. They have the right to approve the case. Without a satisfactory explanation. The government will file a complaint that. Could ultimately overturn the deal.The wall street journal reported that in 2018. A chinese government-controlled company bought .Alpi aviation, an italian military drone maker. And then move sensitive technology .To china without the knowledge of italian and eu authorities. The italian military has used alpi’s technology in afghanistan.this is a textbook case chief executive. Of dutch economic intelligence firm datena. It’s a national strategy by the chinese government.Milan’s corriere della sera reporte in september. That mars, a hong kong-base company. Bought a 75 percent stake in. Alpi aviation in 2018 for 90 times its stock price at the time.

 

Italian police said the hong kong buyer conceale

The true identity of the new owner. Of alpi aviation through a complex and opaque. Network of company holdings. Which was linked to two chinese state-owne. Enterprises the state-owned railway giant crrc. And an investment group controlled by the wuxi municipal. Government in jiangsu province.The wall street journal reporte that italian police believe. Mars is a shell company that was set up. Specifically to give the chinese. Government a controlling stake in alpi.In a statement alpi aviation denied that it laws relate. To the transfer of strategic Romania Phone Number  information and .Technology out of italy. The company said the deal to sell. The stake was transparent and sold .At actual value. The company declined to comment further.In addition the two chinese companies .Did not respond to reuters’ requests for comment.The wall street journal reported that the deal shed light on how china bypassed weak investment scrutiny in europe to gain access to sensitive technology. Reuters, citing sources, said the italian authorities were paying “Maximum attention” to the matter and were preparing to issue a formal notice to all parties involved in the deal asking for clarification.

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Rome strengthens prevention of chinese takeovers

 

Corriere della sera reported that italian police pointed out that the acquisition was not only suspected of violating italy’s Arms circulation law”, but may also violate italy’s “Golden power regulations – which prohibit or restrict italian companies from selling strategic assets, including defense and infrastructure, to foreign investors.In the worst cases, roman authorities could impose penalties that would ultimately invalidate the deal.Since 2012, italy has so far used its “Golden power” four times to prevent foreign interests in italy, three of which have blocked chinese bids. In addition, two of them were implemented after the government of prime minister mario draghi took office in february 2021.Last month, draghi rejected a deal to sell a vegetable seed maker to syngenta, a swiss pesticide maker owned by chemchina. In april, he also blocked china’s shenzhen invenland holdings co. From buying a controlling stake in milan-based semiconductor equipment company lpe.The wall street journal reported that analysts pointed out that the chinese government is using such acquisitions to meet specific needs, such as semiconductors, in order to reduce its dependence on foreign technology.

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