Blackrock secures Italy’s approval to hold more than 3pc in Leonardo

Rome: BlackRock opens new tab, the world’s biggest asset manager, has secured Italian government approval to hold a stake of more than 3% in defence and aerospace group Leonardo (LDOF.MI), opens new tab, a government document showed on Monday.

The document, sent by Prime Minister Giorgia Meloni’s office to parliament, deals with so-called “golden power” decisions.

Italy’s government has “golden powers” to block or set conditions on foreign and domestic investments, as well as governance changes, involving companies that operate in strategic sectors such as energy, telecoms, defence and banking.