Italy's Fincantieri and Norway's Aker Yards
are in talks about a possible merger of the two shipbuilding
companies in an attempt to prevent Aker's largest shareholder,
Korea's STX Shipbuilding, from taking control of Aker, according to
a Norwegian financial newspaper.
In late October, South
Korea's STX Group purchased 39.2% of Aker' shares, an $800 million
investment, making it the company's largest shareholder.
publication, meanwhile, has reported that Italian parliament member
Maurizio Zipponi approved the proposed merger, and quoted Zipponi
as saying that Korea's access to Aker could threaten Europe's --
and specifically Italy's -- shipbuilding industry in a matter of
Aker's chairman, said that Aker's board would "review the strategic
alternatives available in order to maximize the value of Aker
contact the reporter who wrote this article, send e-mail to Johanna
Jainchill at [email protected].