France, Italy want solution for STX shipyard by end September

Record ID: 904836

  • 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*** FRENCH FINANCE MINISTER BRUNO LE MAIRE ARRIVING AND BEING WELCOMED BY ITALIAN ECONOMY MINISTER PIER CARLO PADOAN / LE MAIRE AND PADOAN SHAKING HANDS AND ENTERING MEETING ROOM SECURITY ITALIAN INDUSTRY MINISTER CARLO CALENDA AND ENTERING MEETING ROOM VARIOUS OF LE MAIRE, PADOAN AND CALENDA SEATED FOR TALKS WITH DELEGATIONS
  • 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: LVA0016SBT7WN
  • 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
  • Usage Terms/Restrictions: None
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