MILAN, Feb 2 (Reuters) - Italian shipbuilder Fincantieri said on Friday it had bought a 50 percent share in STX shipyards from France, in a deal expected to broaden an alliance between the naval industries of the two nations. The deal, which values the stake at 59.7 million euros, ends a long dispute that strained relations between France and Italy. French President … [Read more...]
France, Italy Want Solution for STX Shipyard by End September
By Gwénaëlle Barzic and Giulia Segreti ROME/MILAN, Aug 1 (Reuters) - France and Italy want to find a solution for Italian shipbuilder Fincantieri's blocked takeover bid for STX France shipyards by Sept. 27, French Finance Minister Bruno Le Maire said on Tuesday. French President Emmanuel Macron angered Rome by ordering STX's "temporary" nationalisation last month, cancelling … [Read more...]
France Offers Italy Naval Ship Deal to Resolve STX Row – Report
PARIS, July 30 (Reuters) - France will offer to expand shipbuilding cooperation with Italy into naval vessels, Finance Minister Bruno Le Maire said, after Paris thwarted a tie-up it is now seeking to renegotiate between the STX France shipyard and Italian rival Fincantieri. Le Maire, who will reopen negotiations in Rome on Aug. 1, described the offer as "a gesture of … [Read more...]
Macron’s Step to Nationalize Shipyard Spooking Outsiders
By Helene Fouquet and Mark Deen (Bloomberg) -- As first steps go, President Emmanuel Macron’s decision Thursday to nationalize a shipyard is as French as it gets. The move, aimed at blocking Italy’s Fincantieri SpA from taking control of the 155-year-old shipbuilder, is confounding those who’ve been expecting Macron to ring in a new era of business friendliness. … [Read more...]
France Nationalizes STX Shipyard to Stave Off Italian Majority, Angering Rome
By Leigh Thomas and Crispian Balmer PARIS/ROME, July 27 (Reuters) - France will nationalize the STX France shipyard to prevent an Italian firm taking majority control, the economy minister said on Thursday, triggering an angry response from Rome to President Emmanuel Macron's first big industrial policy decision. As France's most avowedly pro-business leader in decades, … [Read more...]