MILAN (Reuters) -Pirelli chief Marco Tronchetti Provera said on Friday the tensions at the tyremaker involving China’s state-controlled Sinochem, its main shareholder, are on the way to being resolved.
Sinochem, which owns a 37% stake, has crossed swords with the company and its second largest shareholder Camfin, which claim that a large Chinese presence in Pirelli poses a threat to its ambitions to expand its business in the United States.
Tronchetti Provera, Pirelli’s executive vice chairman, controller of Camfin and de facto top boss, said at a conference in Milan that the company was on the right track towards a positive outcome.
(Reporting by Gianluca Semeraro, writing by Gavin Jones, editing by Alvise Armellini)
