Zipponi supports merger between Fincantieri, Aker Yards |
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Tue, 08 Jan 2008 09:14
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MILAN (Thomson Financial) - Reformed communist politician and parliament member Maurizio Zipponi has proposed to the Italian government a merger of Fincantieri SpA and Aker Yards ASA in a move aimed at blocking Korea's STX Shipbuilding, which recently bought a major stake in the Norwegian shipyard, Il Sole 24 Ore said, citing Zipponi.'If Koreans gain access to European technology, the entire shipbuilding industry in Europe will be wiped away in just a few years. And Italy will lose one of its areas of excellence,' Zipponi was quoted as saying by the newspaper.On Oct 23, STX said it bought a 39.2 pct stake mln in Aker Yards, becoming the company's largest shareholder.Since then, Aker Yards management has sought ways to defend itself from the Korean company and hired Arctic Securities and JP Morgan to examine 'strategic alternatives', including the possible entrance of other European companies into its share capital, Il Sole said.Zipponi said the Italian government could keep a majority stake in a merged Fincantieri-Aker Yards entity.danilo.masoni@thomson.comdm/ms1COPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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Aker Yards signs 1.4 bln nkr deal to build 4 offshore vessels for 'K' Line 