The country that Chinese investors prefer – Pirelli but not only. The 7.1 billion euro deal marking ChemChina’s entry into the capital of the history Milan-based company obviously turned the spotlight of the foreign press. On March 23, the announcement brought a rash of articles in the foreign press, telling the details of the largest deal so far of Chinese investors in Italy (March Wall Street Journal – ChemChina to Buy Controlling Stake in Pirelli; Reuters – ChemChina to buy Italian tyre maker Pirelli in $7.7 bln deal*; Financial Times – CNCC closes in on Pirelli takeover*; New York Times – ChemChina to Buy Italian Tire Maker Pirelli in $7.7 Billion Deal*; Washington Post –Chinese state company launches bid for Italy’s Pirelli; El Pais – ChemChina comprará al fabricante de neumáticos Pirelli por 7.100 millones; Sueddeutsche Zeitung, Perle Pirelli geht an China; Frankfurter Allgemeine Zeitung – Pirelli wird chinesisch; Le Nouvel Observateur: Italie. Comment Pirelli est passé sous contrôle chinois). But, as the foreign press explained, this is only part of the investment plan that has grown to 14 billion euro in the last five years (New York Times, March 23 – After Pirelli, Chinese Shopping Spree in Italy to Continue*), making Italy – according to Bloomberg – China’s favourite destination for acquisitions (March 23 – Italy Becomes China Favorite Place for Deals With Pirelli). And, as Les Echos adds, it has become an outpost for other operations in Europe (March 24 – Avec Pirelli, l’offensive de la Chine s’accélère en Europe).
Along with Chinese investors, Indians are also coming to Italy. Reuters, Les Echos and Le Figaro published the news of a possible interest of Mahindra in the mythical brand Pininfarina (March 25 – India’s Mahindra in talks to buy Italy’s Pininfarina, L’indien Mahindra pourrait racheter le mythique italien Pininfarina; L’indien Mahindra prêt à racheter le designer Pininfarina).
Growth of Italian groups – The financial pages did not only report on the appetite of foreign investors. Italian groups are also investing abroad. General, for instance, is studying expansion into the Asian real estate market (March Wall Street Journal, 20 – Real Estate Unit of Italy’s Generali Planning Move into Asia*) and Enel, in the industrial plan it just presented, showed interest in emerging markets and renewable energy with 18 billion in investments over the next five years (March 20 in Les Echos, L’italien Enel veut rebondir grâce aux énergies renouvelables and Reuters– Italy’s Enel looks to emerging markets and renewables) and a new wind energy system in the United States (Bloomberg, March 25 – Enel Green Power Starts Construction on Oklahoma Wind Project).
Ferrero is also seeing higher returns with profits jumping by % thanks to the contribution of International markets (March 20 su Reuters – Ferrero profits jump 14 pct in 2014 as Kinder eggs sales soar; and Les Echos– Ferrero-Bond de 14% du bénéfice 2014 grâce aux oeufs Kinder) as is Telecom Italia which had a positive showing in 2014 (Expansion, March 20 – Telecom Italia vuelve a los beneficios y gana 1.300 millones en 2014). And, as the Financial Times explained, last years was also very positive for the Italian investment fund market, where sales practically doubled with respectd to 2013 (March 22 – Italy: La dolce vita calls to fund managers*).
Science, culture, tourism– Italian culture was again a subject of interest in the foreign press, starting with El Mundo, which interviewed Umberto Eco about his latest book (March 26 febbraio – Umberto Eco: ‘Los periódicos ya no tienen poder sobre el hombre de la calle’). Last week, however, there was also interest in science, with Le Monde that reported on the success of the electronic platform Arduino, the king of Made in Italy electronics (March 24 – Arduino, cerveau à tout faire*). Along with Liberation, the French paper also wrote about La Sapienza, a film by Eugène Green, in which the leading character find his inspiration in Italy, and the Baroque period. (March 24 – « La Sapienza » : l’Italie, pays de toutes les renaissances*; March 25 – «La Sapienza» : Saut en langueur).
Certainly, one can still take the Grand Tour today. The Financial Times suggests taking it through the tradition of small independent hotels that are preparing to give their guests the emotion of the 18th century (March 20 – Italy’s boutique hotels offer modern-day Grand Tour*). Meanwhile, the Wall Street Journal reviewed the exhibit of the drawings by Giovanni Battista Piranesi the the temples of Paestum (March 24 – Review of ‘Piranesi and the Temples of Paestum: Drawings From Sir John Soane’s Museum’ at the Morgan Library & Museum*), and other papers wrote about Pompei and its rebirth after the restoration of the Villa of Mysteries (March 20 in New York Times – Undoing the Ruins Once Wrought by Vesuvius* and El Pais –Pompeya resucita sus misterios
Finally, the Financial Times, turned to the kitchen and gave its readers advice on how to prepare pappardelle with artichokes (March 20 – Recipe: pappardelle with artichokes*).
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