March 10, 2020 / 8:49 PM / 18 days ago

EU antitrust regulators likely to block Fincantieri, Chantiers deal -sources

BRUSSELS/MILAN, March 10 (Reuters) - EU antitrust regulators are poised to block Fincantieri’s proposed buy of French rival Chantiers de l’Atlantique unless the Italian shipyard offers major concessions to address competition concerns, people familiar with the matter said.

However, it is not clear what concessions Fincantieri can offer, whether in terms of asset sales or the transfer of key technologies to rivals, to secure approval from the European Commission for the deal, the people said.

The company is hoping that EU competition enforcers will take into account the impact of the coronavirus outbreak on businesses and jobs before making a decision, a source close to Fincantieri told Reuters. (Reporting by Foo Yun Chee in Brussels and Elisa Anzolin in Milan; Editing by Leslie Adler)

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