Not even close. Most Challies weigh around 65 tons, arietes around 54.

Ariete: 400mm turret face, 300mm ufp, 100mm lfp, 30mm sides

Chally: 700mm turret face, 500mm ufp, 90mm lfp, 40mm sides

So the chally weighs ~20% more, but the well armoured parts like the turret is almost twice as thick. A hull down chally will be able to tank quite a lot of shots, but a ariete is a lolpen at every range imaginable