Italian state-owned shipbuilder Fincantieri FCT.MI agreed in May to pay 79.5 million euros ($93.20 million) for two-thirds of STX France, which is being sold following the collapse of South Korean parent STX, but the Italian bid has raised fears about French jobs at the Saint-Nazaire site on the Atlantic Coast. “The pre-emption decision is temporary and should give us the time to negotiate in the best conditions.”

The decision, which was welcomed by French politicians of all political stripes, flies in the face of any expectations that Macron, who in his former post as economy minister sought to liberalise swathes of the economy, would break with the French state’s tradition of intervention in business. Macron said the nationalisation was simply a "transitional decision" and France "obviously wishes the deal to include a major role" for the Italian suitor, the state-owned shipbuilder Fincantieri, the source said. Paris, July 28 - Economy Minister Pier Carlo Padoan has described the French government's decision to exercise pre-emption rights on the stock of the STX shipyard to prevent a takeover by Italy's Fincantieri as "unacceptable". The prospect of a Fincantieri takeover had raised fears in France about jobs at the Saint-Nazaire site, and the government was also concerned about the strategic importance of the yard, the only one in the country big enough to build aircraft carriers and other large warships.
France nationalises the STX Europe-owned Chantiers de l'Atlantique shipyard in Saint-Nazaire, Pays de la Loire, to prevent Italian shipbuilding firm Fincantieri taking majority control. Italian Minister of Economy and Finances Pier Carlo Padoan calls the French decision to nationalise the shipyard "grave and incomprehensible".