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Finmeccanica says partnership with EADS, BAE will continue
September 13, 2012 / 11:20 AM / 5 years ago

Finmeccanica says partnership with EADS, BAE will continue

MILAN (Reuters) - Italian aerospace and defence company Finmeccanica said on Thursday its partnerships with EADS and BAE Systems would continue even if the two companies go ahead with a planned tie-up.

“Finmeccanica has established consolidated partnerships with both companies in the industrial, technological and commercial field, which will continue with the combined entity”, it said in a statement.

BAE Systems and EADS said on Wednesday they were in talks to create an industry leader that would overtake U.S. rival Boeing in sales and contend with cutbacks in defence spending in Europe and the United States.

According to Mediobanca analysts, an EADS-BAE combination would limit Finmeccanica’s ability to compete in Europe and leave the Italian state-owned group with French aerospace and defence electronics specialist Thales as the only merger option left.

Reporting By Danilo Masoni

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