Czech investors eye stake in Pirelli as Italy curbs Chinese influence

Czech billionaires Michal Strnad, owner of the defence‑industry group Czechoslovak Group, and Pavel Tykac, head of the energy holding Sev. en Global Investments, are in talks to acquire a 10‑20% share of Italian tyre maker Pirelli from its Chinese state‑owned shareholder Sinochem. Sinochem currently holds about 34% of Pirelli and is Italy’s largest shareholder in the company. The Italian government has invoked “golden powers” to limit Sinochem’s influence, citing strategic concerns. The proposed transaction is valued between €750 million and €1.5 billion, but negotiations are still at an early stage and price differences remain unresolved. Pirelli has declined to comment, and Sinochem, Strnad and Tykac have not issued statements.