The European antitrust bowl (for now) the acquisition by Fincantieri of Stx France, the company that owns the shipyards of Saint-Nazaire. According to European sources quoted by the newspaper La Repubblica, Brussels believes that the operation is "incompatible" with the internal market and EU competition rules. The document containing this assessment was sent to the Italian group on 21 December.
The Roman newspaper writes that the European Commission has given Fincantieri time until January 31 to reply. The term within which to find the solution to the competition problems detected by the Antitrust is instead the 17 April, date of the final verdict on the takeover.
As it stands, according to the EU, the Italian-French marriage would produce distorting effects on the European cruise ship building market, because from the union between the first and second builders of the continent (respectively Fincantieri and Stx) a clear-cut colossus would be born dominant positionwhich would restrict competition.
In particular, the companies would suffer "an increase in prices for the construction of ships, as well as a reduction in choice and their quality", while consumers "would be directly affected in effective negative terms on choice, quality and innovation" of ships and services.
Still, however, nothing is lost. Always second La Repubblica, the dialogue between Brussels and Fincantieri to find a solution has yet to begin.
