Market Chatter: STMicroelectronics Rejects Italy's Fresh Bid to Appoint Board Candidate

MT Newswires Live

May 01, 2025

STMicroelectronics (STM) has rejected a fresh attempt by the Italian government to appoint its candidate Marcello Sala to the company's supervisory board, Reuters reported Wednesday, citing two sources.

The Italian government had requested the STMicroelectronics board to hold an extraordinary general meeting to let shareholders vote on Sala's appointment, according to the report. The request was denied, it added.

The Italian and French governments indirectly own a combined 27.5% of STMicroelectronics.

STMicroelectronics did not immediately respond to a request for comment from MT Newswires.

STMicroelectronics shares were down 2.7% in recent Wednesday trading.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 22.37, Change: -0.62, Percent Change: -2.68

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