France and Italy reach 'win-win' deal over STX shipyard


Deal, which aims to create a world leader in naval industry, ends dispute after France had unexpectedly blocked a takeover by an Italian firm.

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The leaders of France and Italy announced a deal Wednesday that allows Italian shipbuilder Fincantieri to take control of France’s STX shipyard with a shared goal of creating a world behemoth in the naval industry, reports The Washington Post.