Italy’s Draghi vetoes third Chinese takeover this year – Reuters

Italy’s Draghi vetoes third Chinese takeover this year – Reuters

ROME, Nov 23 (Reuters) - Italy's Prime Minister Mario Draghi has vetoed the third Chinese takeover in the country since his government took office in February, an official Hong Kong filing by the rebuffed group showed on Tuesday.

Zhejiang Jingsheng Mechanical (300316.SZ) said Rome had blocked its attempt to set up a joint venture with the Hong Kong arm of Applied Materials (AMAT.O) to buy the U.S.-based group's screen printing equipment business in Italy.

The decision was taken at a cabinet meeting on Nov. 18, two government sources told Reuters, adding Industry Minister Giancarlo Giorgetti had recommended the veto, arguing the takeover could have had consequences in the strategic semiconductor sector.