The Italian government, led by Prime Minister Giorgia Meloni, is considering measures to reduce Chinese ownership stakes in key Italian companies. Targets include Pirelli, where the Chinese state-owned Sinochem holds a 37% stake, and CDP Reti, in which China’s State Grid owns 35%. Rome may pressure these entities to sell shares or restrict their governance rights using its "golden power" rules, which allow the government to block or limit foreign investments deemed sensitive. This move aims to curb Beijing’s influence in Italy and facilitate the growth of these companies in the United States. The Italian government has previously defended its authority to intervene in such deals, as seen in the recent blocked acquisition attempt by UniCredit SpA of Banco BPM SpA. The initiative has drawn criticism within the eurozone, given Italy’s economic challenges and reliance on foreign capital investment. Additionally, Del Monte officials have agreed to revise auction rules following creditor concerns about the openness of the sale process.