Italy welcomes the collapse of the Iveco sale to FAW

Rome has welcomed the end of talks over a possible sale of Italian truck and bus brand Iveco to China’s FAW Jiefang. The Italian government considers trucks a “strategic national interest”, Industry Minister Giancarlo Giorgetti told Reuters news agency. Iveco is part of Dutch-British group CNH Industrial, which in turn is controlled by Exor, the holding company of Italy’s Agnelli business family. CNH had previously announced it had ended talks with FAW over the Iveco sale but was still pursuing a spin-off of the group in early 2022.