At the proposal of the president Paolo Gentiloni, the Council of Ministers decided not to exercise special powers on the acquisition of all the shares held by Fiocchi Munizioni by the company holdco. The latter is the typical company created ad hoc for similar operations and controlled by Charming Capital Funds, an equity fund that has offices in Milan, Madrid and London. In the last few hours there has been talk of the possibility for the Government to exercise the so-called "Golden power" on the Lecco company and to take advantage of the time limits.
The hypothesis of the "golden power" was linked to the fact that Fiocchi belongs to the defense and national security sector. Usually the golden power, ie the special powers that allow the government to "lock down" a specific company in the event of a national interest in danger, is exercised in strategic sectors.
In addition to defense, they can be mentioned energy, transport and communications. Among other things, precisely when the CdM was dealing with Fiocchi Munizioni, it was decided to strengthen the rules of this golden power, expanding its application to sectors with high technological intensity (critical or sensitive infrastructures in the first place). There will probably be next week more details on this matter.