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STX deal possible at France/Italy summit on Wednesday - Macron's office

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STX deal possible at France/Italy summit on Wednesday - Macron's office

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PARIS (Reuters) – France and Italy could reach a deal over the STX France shipyards at a meeting of the two countries’ leaders on Wednesday, an official at French President Emmanuel Macron’s office said. France clashed with Italy in July after ordering a “temporary” nationalisation of STX, cancelling a deal in which Italian state-owned Fincantieri <FCT.MI> and another Italian investor had agreed to buy a 54.6 percent stake. France took the decision after Fincantieri, which had agreed to buy the majority stake from STX’s former South Korean owners, rejected a French government proposal of 50-50 ownership. France has proposed extending co-operation to the field of naval defence, in which its Naval Group military shipyard – formerly known as DCNS – is an important player. The French government is also keen to preserve jobs at the STX Saint-Nazaire site on France’s Atlantic Coast.

(Reporting by Jean-Baptiste Vey; Writing by Sudip Kar-Gupta; Editing by Brian Love)
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