“Fincantieri-Naval Group tie up still unclear”

Rome - “A potential deal is important to us, as it would increase the size of the pie.”Thus Alessandro Profumo, CEO of defence contractor Leonardo, once more commented favourably on the proposed ship building merger

Rome - “A potential deal is important to us, as it would increase the size of the pie.” Thus Alessandro Profumo, CEO of defence contractor Leonardo, once more commented favourably on the proposed ship building merger, parallel to that achieved with STX in the civilian sector, between Italy’s Fincantieri and France’s Naval Group. The move would need to overcome the fact that the latter has a strong partnership with Thales, a competitor of the Italian aerospace and defence contractor run by Profumo: “But to date the plans of Fincantieri and Naval Group still seem unclear to me, perhaps you are better informed,” said the former banker Profumo to market analysts during a conference call that was conducted to report half-year results.

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