With the takeover of the French FTX shipyards in February, Italy’s Fincantieri aspires to lead an “Airbus of the Seas” European conglomerate that can lead both the civil shipbuilding sector and compete in the international defence procurement industry.
Fincantieri took control of France’s STX shipyards in February 2018, after the French government waved some of its objections. Both Fincantieri and STX are state-owned.
The rational of the merger is that European shipbuilding needs a sectoral ch...

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