EU Launches Probe Over Fincantieri's Bid for French Shipyard

EU antitrust regulators launched on Wednesday a full-scale investigation into Italian shipyard Fincantieri's bid for France's Chantiers de l'Atlantique, saying the deal may reduce competition and push up prices for cruise ships.

The European Commission said it was unlikely that the entry of other ship builders into the market would offset the possible negative effects of the deal, confirming a Reuters story on Oct. 29.

The EU competition enforcer will now decide by 17 March whether to clear or block the deal.

(Reporting by Foo Yun Chee; editing by Francesco Guarascio)