China’s State Grid is close to finalising a €2bn investment in Italy’s national power grid, the latest deal struck by China since the eurozone financial crisis into government-owned infrastructure in Europe, writes Rachel Sanderson in Rome.
The deal reflects a shift in attitude by Italians towards Chinese investments. China was once viewed with suspicion, but since the eurozone crisis Italy has been desperate to attract foreign direct investment after international investors pulled money out of the country.
Pier Carlo Padoan, Italy’s economy minister, said that he was “in the final stages” of agreeing a deal that will see China’s State Grid taking about a 35 per cent stake in Italy’s grid network for about €2bn.
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