Beijing-based Efort Intelligent Equipment wanted to increase its stake in an Italian high-tech company, Robox.
- Italian Prime Minister Draghi vetoed the technology transfer deal. It’s the fifth China-related veto with Mario Draghi as PM.
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- Draghi’s government has exercised its “Golden Power” with regards to a prospective deal between ROBOX, an Italian company based in Novara, and Efort Intelligent Equipment, a Chinese leader in robotics with links to the Beijing government. The latter aimed to increase its shares of the former and strike a technology transfer agreement. The government greenlit the share increase, but vetoed the technology transfer agreement.
Prior to being Italian PM Draghi was the President of the European Central Bank
