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BRUSSELS TO INVESTIGATE FINCANTIERI TAKEOVER OF CHANTIERS DE L'ATLANTIQUE

Wednesday, January 9, 2019 

The European Commission has said it is to investigate the planned acquisition of French shipbuilder Chantiers de l'Atlantique of Saint-Nazaire by the Italian Fincantieri group.

The investigation was triggered by information provided by France and Germany, which lead the EC to conclude that the acquisition could significantly harm competition in shipbuilding, in particular in the global cruise ship market.

The move has drawn sharp criticism from Italy, notably from Prime Minister Giuseppe Conte, who said he was “surprised” by the decision, and Deputy Prime Minister Matteo Salvini who commented that France and Germany were behaving wrongly, and the matter was extremely serious. This latest discord underlines growing tensions between Italy and France since the former's right-wing government came into office in June 2018.

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