“Poseidon”, the merger project between Fincantieri and Naval Group announced by Macron and Gentiloni in Lyon last year is not experiencing happy moments.
51% of Stx France by Fincantieri is still being examined by the French, German and European competition authority, but it is only a bureaucratic matter. The French press yesterday, however, spoke, with concern, of probable problems for the “Poseidon” project.
There are two reasons: the recent tensions between Rome and Paris for Libya and the announcement by Fincantieri-Leonardo to consolidate the partnership, through Orizzonte Sistemi Navali, a subsidiary of Leonardo. Fincantieri needed combat systems to equip the future ships that will come out of the world giant that is being born in France. Announcement that according to the French it would limit Naval Group's ambitions in the Stx France Affaire. As known, Naval Group for combat equipment would like to rely completely on its subsidiary, the French Thales, Leonardo's major competitor in the sector. France, as a precaution, has for the moment blocked the exchange of shares between the two groups (between 5 and 10%), the first step towards the merger. According to "the Opinion" it would have been the prime minister's office to veto it about a month ago. Not to mention that the CEO of Thaïes, Patrice Caine, is very close to Emmanuel Macron. The French would be more inclined to a "gradual" rapprochement between Fincantieri and Naval Group, based more on joint projects and industrial cooperation rather than on share exchanges. The next alliance rehearsals will take place in Paris in a few days at the Euronaval show that will start at Bourget the 23 October, where the collaboration for the realization of the new unit from logistic support and supply should be presented.
However the French minister Le Maire, writes La Stampa, also looks to a new member, the German Tkms who is currently in great difficulty and needs strong partners.