Purchases on Leonardo, Cingolani reiterates the necessity for M&A or jv by sector | EUROtoday

Listen to the audio model of the article

(Il Sole 24 Ore Radiocor) – More purchases on the Leonardo inventory – Finmeccanica with the markets more and more supporting the speculation of acquisition of the Defense Vehicles division of Iveco Group, whose inventory slips (the gross sales had already begun on Friday, after the frenzy on the day earlier than linked to the rumors on the acquisition). Instead, the protection firm's inventory is among the many greatest on the Piazza Affari checklist, whereas the FTSE MIB is falling. Investors are betting on Leonardo's more and more credible intentions for thebuy of the protection automobile division of Iveco: to strengthen the market's convictions, the CEO of Leonardo, Roberto Cingolani, reiterated on Sunday, in an interview with The messengerthe necessity for aggregations or joint ventures for the European protection sector.

Regarding the attainable operation on Iveco, Cingolani outlined it as “a premature scenario”. To consider the deal, the corporate is ready to «perceive how the following European Commission intends to maneuver in direction of frequent protection initiatives, with which platforms”, also because, explains Cingolani, “we have to perceive if there are alternatives to consolidate the sector from a neighborhood perspective”. Equita analysts interpret Cingolani's words as “additional affirmation” of the potential interest in the Iveco division which, according to recent press sources, could be valued at 750 million euros.

The defense company's share price also benefits from the hypothesis of new orders which had favored purchases of the stock on Friday. The listing was driven by the declarations of German Chancellor Olaf Scholz on the intention to order another 20 Eurofighters before the end of the legislation in 2025, with Leonardo's CEO who, in an interview with the French The echoeswould have reported the possibility of Italy also purchasing another 24 Eurofighters.