Leonardo Chairman Floats Possible Future Merger with Fincantieri

The chairman of Italy's Leonardo on Monday floated the idea of a future combination between the defence and aerospace group and state‑controlled shipbuilder Fincantieri.

Speaking at a conference at Milan's Bocconi University, Stefano Pontecorvo told an audience that he hoped the two groups could one day merge, addressing his remark to Claudio Cisilino, Fincantieri’s executive vice‑president for operations, who was sitting in the audience.

“I hope that one day a merger between us might be possible," said Pontecorvo, without elaborating.

Fincantieri and Leonardo, both controlled by the Italian state, already cooperate on several programmes, but past discussions over deeper industrial integration have stalled amid political issues and diverging business priorities.

Fincantieri has targeted the expansion of its defence business in its latest five-year plan.

(Reuters)