The EU Commission has established that the acquisition of the French shipyards in Saint Nazaire is incompatible with the internal market and with the Community competition rules. A setback to the Joint Venture between the Italian shipbuilding giant Fincantieri and the French Stx-France. The president of Fincantieri Giampiero Massolo commented the setback thus: "Nothing is done at all costs, we will continue with conviction to offer the European Commission food for thought, quantified data, material to respond to their objections. Then we will see what the Commission's decisions will be. It would be a shame to miss an opportunity for European industry. We will do all we can to prevent this from happening".

Massolo then specified that the EU Commission at the end of last year had provided what is called lo statement of objection, that is, a document that is prepared in procedures similar to ours. So there is nothing strange compared to the usual. Now Fincantieri, Massolo specifies, has a certain period of time to reply: we are preparing these answers which will be delivered on time, between the end of the month and mid-February, so that the Commission can further consider them. The procedure expires in mid-April and, unless there are further postponements, we expect a decision on that date. We are sure of our counter arguments. The president of Fincantieri is convinced that the transaction with the French does not harm the consumer or our counterparts who are the shipowners.

Europe is committed to this and we believe we are key players in building a strong pole of shipbuilding and being able to compete with our Asian competitors. We are convinced that what we are doing protects the European consumer, European industry and work. And this protection also passes through the creation, where there is a need, as in shipbuilding, for strong poles that create efficiency and technological innovation for the benefit of the competitiveness of the industry.