France, Italy want solution for STX shipyard by end September

Record ID: 904835

  • Title: France, Italy want solution for STX shipyard by end September
  • Date: 1st August 2017
  • Summary: ROME, ITALY (AUGUST 1, 2017) (REUTERS) ***WARNING CONTAINS FLASH PHOTOGRAPHY*** VARIOUS OF LE MAIRE ARRIVING TO ADDRESS MEDIA AFTER TALKS CAMERA LIGHT (SOUNDBITE) (French) FRENCH FINANCE MINISTER BRUNO LE MAIRE SAYING: "I wanted to say this here in Rome because we are fully aware in France of the emotion provoked by the decision to exercise the pre-emption right on the STX shipyard. I want to tell our Italian friends that this decision is a temporary decision and, with the president of the republic and the prime minister, our intention remains the same - to build a great European naval industrial champion with Italy that covers both the civilian and military sectors and this remains our objective." CAMERA LIGHT (SOUNDBITE) (French) FRENCH FINANCE MINISTER BRUNO LE MAIRE SAYING: "We are giving ourselves time to negotiate a good deal on the shipyards, a deal that is solid and enduring between Italy and France. We are giving ourselves the possibility, which I think is even more important, to work together towards industrial cooperation, both in the civil and the military sectors, between Italy and France, with a strategic objective: to build the Airbus of the naval world, between Italy and France, in other words the world's number one naval industry champion. It is normal that this takes a little while." LE MAIRE ADDRESSING JOURNALISTS SOUNDBITE) (Italian) FRENCH FINANCE MINISTER BRUNO LE MAIRE SAYING: "We are two great nations. We are like two brothers. We have a difficulty, a difference of opinion over STX, but we will find a satisfactory solution."
  • Embargoed: 15th August 2017 20:02
  • Keywords: Fincantieri blocked takeover bid STX France shipyards Le Maire Padoan Calenda Rome talks naval cooperation
  • Location: ROME, ITALY AND VARIOUS UNIDENTIFIED LOCATIONS
  • City: ROME, ITALY AND VARIOUS UNIDENTIFIED LOCATIONS
  • Country: Italy
  • Topics: Company News Markets,Economic Events
  • Reuters ID: LVA0036SBT7WN
  • Aspect Ratio: 16:9
  • Story Text: France and Italy want to find a solution for Italian shipbuilder Fincantieri's blocked takeover bid for STX France shipyards by September 27, French Finance Minister Bruno Le Maire said on Tuesday (August 1).
    French President Emmanuel Macron angered Rome by ordering STX's "temporary" nationalisation last month, cancelling a deal in which state-owned Fincantieri and another Italian investor had agreed to buy a total of 54.6 percent of STX France, sold because of the collapse of its South Korean parent.
    Le Maire, who held talks in Rome with his Italian counterpart Pier Carlo Padoan and Italian Industry Minister Carlo Calenda, also told reporters the two countries plan to boost naval cooperation.
    The Italian ministers said Italy could not accept a 50-50 split, adding differences with France remained.
    In a joint statement, the two countries said France would not open STX France to other bids until September 27. Padoan said there was time before then to find a solution.
  • Copyright Holder: REUTERS
  • Copyright Notice: (c) Copyright Thomson Reuters 2017. Open For Restrictions - http://about.reuters.com/fulllegal.asp
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