Zipponi Supports Merge

Wednesday, January 09, 2008
According to, 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. 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.

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