Following Long Row, Italy's Fincantieri Will Take Control Of France's STX

The governments of Italy and France have reached an agreement that will allow Fincantieri to acquire French shipbuilder STX, reports the Italian shipbuilder.

There has been a standoff for some time. In July, France threatened to nationalize STX if Italy didn't accept its offer for an equal split. The shipyard is the only one in France with facilities large enough to build carriers, Reuters noted at the time.

Fincantieri will acquire 51 percent of the French shipyard, due to...