France and Italy signs military shipbuilding deal

French defense company Leonardo favors a joint venture with Italian defense shipbuilder Fincantieri for a military shipbuilding deal: Italian news agency Corriere della Sera.

As per a report from Italian news agency Corriere della Sera, the joint venture that has been signed between Leonardo, a defense company and shipbuilder Fincantieri will favor Italy’s talks with France over a military shipbuilding deal.

Earlier this month the two Italian companies sealed a deal over the development of combat systems, strengthening their cooperation in the naval sector.

In a separate development, last week, French state-controlled shipyards Naval Group announced a joint venture with Italy’s Fincantieri for warship projects, thus creating a broader alliance between the two countries on military shipbuilding.

Leonardo, which supplies combat systems and other equipment for military ships, is expected to take part in the alliance; however its role has been questioned as its competences overlap with France’s Thales, which has a 35% stake in the Naval Group.

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