The two countries are trying to maintain a balance of interests.
Some nervousness, as Bloomberg writes, remains in Europe not only when discussing future chip production projects in the region, but also when choosing leverage over existing production. An example is the situation with the appointment of new managers of the French-Italian company STMicroelectronics, which specializes in the development and production of semiconductor components.
Image source: STMicroelectronics NV
In connection with the expiration of the powers of the general director of the company, the question of his re-election arose, but the Italian authorities tried to strengthen their influence within STMicroelectronics, persuading the company to increase investment in Italy. Newly-represented French CEO Jean-Marc Chery was still appointed for another three years, but the Italian side promoted its CFO Lorenzo Grandi to a position as a member of the company's directors. These changes must be approved by the shareholders meeting on May 22; they were recently agreed upon at the government level of the two countries.
The Italian government owns 50% of the shares of the structure, which owns 27.5% of STMicroelectronics shares, so strategically important changes in the company's management structure are discussed at the highest political level. In this transnational company, the automotive business has historically developed mainly due to the efforts of the Italian side, now it is gaining importance for the economy of the region due to the spread of electric vehicles and autopilot. STMicroelectronics has chip production facilities in France and Italy.