(Alliance News) - The market is not betting on a merger between Leonardo and Fincantieri.
As Milano Finanza reported on Wednesday, following statements from Leonardo's chairman, Stefano Pontecorvo, who initially expressed hope for a potential integration before later backtracking, both stocks closed lower: Leonardo down 0.7% and Fincantieri down 2.3%.
According to analysts, the possibility is not currently on the table. Banca Akros and Equita emphasize that both companies have already streamlined their respective operations and do not see significant industrial synergies, especially considering that Fincantieri's civil business accounts for about 65% of its revenue.
Even in a theoretical scenario of a merger at current prices, the operation would remain complex, despite the creation of a group with over EUR28 billion in revenue and a strong state presence.
Beyond M&A speculation, attention remains focused on Leonardo's fourth-quarter results, expected on February 25.
Intesa Sanpaolo forecasts a solid quarter, with results above consensus in terms of profitability, cash flow, and net debt.
There may also be updates regarding the Aerostructures division, which Leonardo is considering spinning off, possibly through a joint venture, with further details anticipated in the industrial plan on March 12.
By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter
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