Rome announced on Tuesday a significant expansion of its Golden Power powers to protect tyre giant Pirelli, citing the company’s strategic importance to the national defence sector. The move grants the state a veto right over any transaction that could affect Pirelli’s ownership, data, or proprietary know‑how when thresholds deemed critical are reached.
New safeguards and veto authority
The updated framework tightens control over foreign investments and restructurings that might jeopardise the firm’s capacity to supply specialised components for military vehicles and equipment. By securing Pirelli’s intellectual property and operational data, the government aims to prevent potential leaks of technology that could be exploited by rival nations.
Why Pirelli matters to defence
Beyond its global reputation for high‑performance tyres, Pirelli produces a range of rubber‑based products used in defence applications, from reinforced belts to specialised sealing systems. Officials argue that losing control over such assets would weaken Italy’s strategic autonomy.
The decree, effective immediately, outlines clear thresholds—such as a 20% share acquisition or any merger that could alter the company’s control structure—where the state may intervene. Companies seeking to invest in Pirelli must now submit detailed plans for review, ensuring compliance with national security interests.