Blackrock gets Italian approval to own more than 3% in Leonardo By Reuters

ROME (Reuters) – BlackRock (NYSE: ), the world’s largest asset manager, has won Italian government approval to take a more than 3 percent stake in defense and aerospace group Leonardo, a government filing showed on Monday.

The document, sent by Prime Minister Giorgia Meloni’s office to parliament, deals with the decisions of the so-called “golden powers”.

Italy’s government has “golden powers” to block or set conditions for foreign and domestic investment, as well as changes in government, involving companies operating in strategic sectors such as energy, telecommunications, defense and banking.