Leonardo chair rows back on Fincantieri merger comments

MILAN, Jan ⁠20 (Reuters) - Leonardo's ⁠chairman ‍on Tuesday rowed back on comments he made about ‍a possible merger with Italian shipbuilder ​Fincantieri, dismissing them as a light-hearted quip.

Stefano ​Pontecorvo floated the idea of a future combination between the two state-controlled groups at a ​business conference in Milan on Monday.

The chair of the Italian ​defence and aerospace group was addressing an audience that ‌included Claudio Cisilino, Fincantieri’s executive vice‑president for operations.

"I made a ​quip, in clearly joking ⁠tones, about a possible merger between Leonardo and Fincantieri," ‌Pontecorvo, a retired career diplomat, said in a statement.

The remarks "do not reflect any ‌hypothesis currently under consideration and there are ‌no formal files or dossiers relating to potential industrial operations" between the two firms, ‍he added.

Leonardo and Fincantieri cooperate on several programmes, but ⁠past discussions over deeper industrial integration have stalled amid political issues and diverging business priorities.

(Reporting by Cristina Carlevaro, editing by Alvise Armellini)

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• SpaceX's spectrum deal puts SIRI's satellite assets in focus
• Potential Starbucks-Chipotle merger: major opportunity or expensive distraction?
• McEwen Mining agrees to sell two Ontario properties for $55M