France nationalizing emblematic shipyard _ temporarily

PARIS (AP) - France's economy minister has announced the nationalization of the country's emblematic shipyard to ensure an Italian company does not take it over.

However, Economy Minister Bruno Le Maire said on Thursday that the decision is temporary, and negotiations with the Italian state-owned group Fincantieri will continue.

The unexpected decision to nationalize the Saint Nazaire shipyard is the first major foray into the industrial sector for President Emmanuel Macron, and runs counter to the free-market image of the French chief of state.

The Italians have rejected a proposal that would have given each side 50 percent, with operational control being held by Fincantieri. Paris wants to keep talking and the minister said the nationalization is aimed at buying time. He said he will go to Rome on Tuesday to negotiate.