China Investment Corp. may acquire a stake in Italy’s strategic investment fund, Reuters reports, citing Il Messaggero. The Chinese sovereign investment fund may take a 10 percent to 20 percent share in the Italian fund, which is being created by state-controlled holding Cassa Depositi e Prestiti.
The strategic fund is being set up in the wake of a flurry of foreign takeovers of Italian companies, such as jeweler Bulgari and dairy firm Parmalat. The vehicle will acquire stakes in infrastructure, defense, security, transport, communications and energy companies to support their expansion.
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