China's Sinochem says it proposed solution to end governance spat with Pirelli

Pirelli's largest shareholder, China's Sinochem, has proposed a "structured solution" to resolve a governance dispute with Italian investor Camfin. This comes as the Chinese government considers limiting Sinochem's influence to facilitate Pirelli's U.S. expansion. Sinochem holds a 34.1% stake, while Camfin has 25.3% and aims to increase it. Sinochem's proposal aims to address governance and U.S. regulatory concerns, but Camfin argues it could harm Pirelli's business model. Camfin has also proposed its own solution and is open to discussions, following its decision not to renew its shareholder pact with Sinochem.