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Italy vows to take tough line with France in shipyard spat

Italy vows to take tough line with France in shipyard spat

MILAN (AP) — Italy is vowing to stand a tough course in talks with France to salvage a deal allowing Italian shipbuilder Fincantieri to take control of a French shipyard.

France's economic minister, Bruno Le Maire, is due in Rome on Tuesday to meet with Italy's economic and labor ministers.

Rome's ire has been raised by the French government's move to nationalize the STX shipyard and thwart Fincantieri's bid for a majority stake in the shipyard.

In an interview with the daily Corriere della Sera ahead of the meeting, Le Maire said France is prepared to allow Finantieri a 50 percent stake and operational control. He said that "France and Italy can find the high road out, building a big European industrial concern in the naval space, with both civil and military aspects."


Updated : 2021-05-07 22:26 GMT+08:00