Three years after the historic baptism of Prime Minister Paolo Gentiloni and French President Emmanuel Macron in September 2017, the merger between Fincantieri and the Stx shipyards of Saint Nazaire is at a standstill by the European Antitrust and, according to what was reported this morning by "la Repubblica", many believe in the decreeand profundis of the Italian-French partnership which should have given life to the "giant of the seas".
Everything is in the hands of the European Commission and the combative Eurocommissioner at the Antitrust, Margrethe Vestager, which already a year ago defined the merger of Stx into Fincantieri as "incompatible" with European competition rules. Fincantieri had to present counter-proposals to overcome the EU veto but in Brussels they argue that adequate proposals have never arrived. The terms expire at the end of December and it is now a matter of days. But there's more.
The French Senate, after the hearings of the leaders of Stx, did not fail to raise their criticisms of the wedding and has targeted the partnership between the Italian shipbuilding group and the Chinese CSSC. According to the French, the Chinese giant essentially aims to acquire technologies threatening the future of the entire European shipbuilding industry. This is why the senators have asked Macron to dismiss the marriage between Stx and Fincantieri by proposing alternative plans to save the Saint Nazaire shipyards through alliances with the Dutch.
For now, Macron is defending the agreement with Fincantieri, but to say that the Italian-French marriage in the shipbuilding industry is at risk is an understatement.
