The German antitrust authority has given the green light to the formation of a joint venture between Rheinmetall and Leonardo.

"Rheinmetall and Leonardo are undoubtedly two important defense companies. However, the establishment of the joint venture did not raise competition concerns and could be approved quickly," said authority chairman Andreas Mundt.

Leonardo and Rheinmetall launched the joint venture last October to develop and produce military combat vehicles, a key step in the consolidation of the European defense industry.

(Italian version Sabina Suzzi, editing Stefano Bernabei)