China's Sinochem denies report of stake sale in Italian tyremaker Pirelli

China's Sinochem denies report of stake sale in Italian tyremaker Pirelli

An employee trims an automobile tire during assembly at the Pirelli & Co. SpA production plant in Merlo, Buenos Aires Province, Argentina, on Wednesday, Aug. 9, 2017. The National Institute of Statistics and Censuses is scheduled to release industrial production figures on August 31. Photographer: Erica Canepa/Bloomberg

China’s Sinochem Holdings Corp, the biggest investor in Pirelli & C SpA, on Thursday denied a report that it planned to sell its 37% stake in the Italian tyremaker.