Czech billionaire Michal Strnad acquired a 14% stake in Pirelli for €987M through his investment vehicle Lumina Crown, becoming the tire maker's third-largest shareholder. The stake was sold by Marco Polo International Italy, controlled by China National Tire & Rubber (CNRC), reducing Chinese ownership from 34.1% to 20.1%.

The transaction follows years of tension between Rome and Beijing over Pirelli's Cyber Tyre sensors, which collect sensitive vehicle data. Italy invoked golden power rules in 2023 and 2024 to restrict Chinese board representation and require pre-clearance for share transfers. CNRC has challenged the restrictions in court.

Camfin, led by Executive Chairman Marco Tronchetti Provera, retains the largest stake at 26.5%, consolidating domestic control. Strnad, 42, built his fortune through Czechoslovak Group, a €7B defense conglomerate that listed in 2026 raising $4.5B. His investment approach emphasizes long-term holdings in companies with durable competitive advantages.

The deal signals a broader European recalibration on Chinese capital in strategic sectors. Pirelli's new board, appointed June 2026, reflects post-golden-power governance with domestic leadership and diversified ownership. Strnad praised Pirelli's premium positioning and innovation capacity.