BERLIN (Reuters) – Germany’s cartel office approved the establishment of a joint venture between the Duesseldorf-based Rheinmetall and Italy’s Leonardo, the regulator said in a statement on Monday.
“Rheinmetall and Leonardo are undoubtedly two important defence companies. Nevertheless, the establishment of the joint venture did not give rise to any competition concerns and could be cleared quickly,” said office president Andreas Mundt.
Leonardo and Rheinmetall launched the joint venture last October to develop and manufacture military combat vehicles, in a key step for consolidation in the European defence sector.
(Writing by Miranda Murray, Editing by Rachel More)
