France to nationalise strategic STX shipyard: minister

France will nationalise the STX shipyard, a leading builder of cruise ships, Economy Minister Bruno Le Maire announced today, raising the stakes in a dispute with Italy over control of the site.

"We have taken the decision to exercise the state's right of preeemption on STX," Le Maire announced, insisting it was just a "temporary" move while France continued negotiations with Italy on shared ownership of the firm.