Tue 06 May, 2008
| Posted in: Brushing aside apocalyptic predictions from the European shipyard industry, the European Commission yesterday approved the acquisition by South Korea’s largest shipbuilder STX of a controlling stake in Norwegian shipbuilder Aker Yards.
Trading in Aker shares on the Oslo exchange was suspended after surging by 20% within minutes of the announcement, trading by mid-afternoon at NKr75.80.
“Effective competition on the shipbuilding markets would not be significantly impeded as a result of the...