[ad_1]
Two paradoxes and a deadline. The first: in the auto industry, the EU Antitrust has quickly given the green light to the 50/50 merger between the French PSA and the Italian-American company FCA. A colossus, however, that runs the risk of having an unbalanced governance on the French side with the employment implications that could arise. In the cruise sector, on the other hand, it continues to request documentation to give approval to the acquisition of the Saint-Nazaire shipyards by the Italian Fincantieri. That three years ago – according to the agreements signed by Macron and the then Prime Minister Gentiloni – should have acquired 50% + 1% (the latter in the form of a 12-year loan) to create a European champion, and therefore of global size , capable of containing the emergence of Chinese and Korean groups.
The second is that the restrictive interpretation of the Competition Department Led by Margrethe Vestager, it runs the risk of not taking into account how much the pandemic is affecting the shipping industry, whose contours of the restart are “not yet clear.” Disinterest in the joint venture built in the army by Fincantieri itself with the French Naval Group, which should have been the second part of the agreement and instead runs the risk of being the only one in an even more sensitive sector. What is now likely is that Fincantieri at this point will drop the deadline for tomorrow’s merger with the former STX (which was controlled by the South Koreans until 2016 before ending up in an extraordinary administration) without asking for another extension while awaiting closure. . antitrust investigation.
The group can continue alone even by virtue of the volumes that arrive from China, where it is in a joint venture with CSSC. A collaboration that the French do not like and perhaps not even in Brussels. It is certainly surprising to think that when it is our turn to lead, the Eurobureaucrats win.
