Fincantieri’s plan to acquire a majority stake in STX France has hit the wall after the French government opted to nationalise the yard.
Bruno Le Maire, economy minister of France, confirmed yesterday that the government had “taken the decision to exercise the state’s pre-emption rights” to buy up STX rather than go ahead with its sale.
This has been described by international media as new president Emmanuel Macron’s first major industrial policy intervention.
