CERNOBBIO, Italy—The Italian government is moving ahead with plans to set up a state investment fund to bolster Italy's industrial fabric and stave off potential takeovers by foreign firms.
Speaking on the sidelines of a weekend conference held north of Milan, Italian Economy Minister Giulio Tremonti fondly recalled the country's postwar IRI holding company, noting that Italian companies tend to be small and that the global economy increasingly revolves around large enterprises. "At this moment it would be preferable to have an IRI," Mr. Tremonti said.
Speaking on the sidelines of a weekend conference held north of Milan, Italian Economy Minister Giulio Tremonti fondly recalled the country's postwar IRI holding company, noting that Italian companies tend to be small and that the global economy increasingly revolves around large enterprises. "At this moment it would be preferable to have an IRI," Mr. Tremonti said.
