Fincantieri shares down over STX

Le Maire says French govt could exercise pre-emption rights

(ANSA) - Milan, July 26 - Shares in Italian group Fincantieri fell by 12% to 0.92 euros in early trading on Wednesday as tensions between Italy and France over the ownership of the STX shipyard escalated.
    Fincantieri CEO Giuseppe Bono said the acquisition of STX France represented an "industrial objective and not a political one", adding that the Italian group had Rome's backing in negotiations over the shipyard.
    Fincantieri in May bought 66.6% of STX France from South Korea's STX Offshore and Shipbuilding as part of bankruptcy proceedings but on Wednesday France's Economy Minister Bruno Le Maire said the French cabinet would exercise its pre-emption rights to buy off the shipyard if Fincantieri did not accept a French offer to divide STX's capital 50-50.
   

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