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Italian government shields Milan-based company LPE Semiconductors deemed of strategic importance, Draghi says Rome bolstering anti-takeover powers in key assets ROME, April 9 (Reuters) - Italy has prevented Chinese company Shenzhen Investment Holdings Co from buying a controlling stake in a Milan-based firm producing semiconductor equipment, two Italian government officials said, signalling a renewed commitment to shield strategic assets from foreign takeovers. The two government officials told Reuters that a cabinet meeting on March 31 used its special vetting powers to block Shenzhen from buying a 70% stake in LPE, which produces components for power electronics applications. Prime Minister Mario Draghi, speaking to reporters late on Thursday, said: “There was a case recently in which the government looked into . an Italian semiconductor company which was to be acquired by a Chinese company. It was blocked.”

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