France, Germany reach deal on arms maker KNDS, opening door to stock market
Akbar Novruz
Read moreThe deal envisages Paris and Berlin holding equal stakes in the maker of tanks and other military gear, at a time when the continent is contending with a hostile Russia and worsening US ties, AzerNEWS reports RFL.
KNDS has a portfolio ranging from Leopard 2 and Leclerc tanks to artillery and armoured vehicles, and is a key supplier to European militaries.
The announcement comes just weeks after the collapse of the Franco-German FCAS project to build a next-generation fighter jet, which dealt a severe setback to efforts to strengthen Europe-wide defence initiatives.
The KNDS deal "reflects the shared determination of France and Germany to strengthen Europe's industrial and defence capabilities, to support their armed forces, and to reinforce European sovereignty in an enduring fashion," according to a joint statement issued by the French presidency.
The German government also said the deal would bolster Europe's defence capabilities.
"The government aims in particular to strengthen bilateral and European armaments cooperation. Cooperation with France plays a key role in this regard," it said in a statement.
Here we are to serve you with news right now. It does not cost much, but worth your attention.
Choose to support open, independent, quality journalism and subscribe on a monthly basis.
By subscribing to our online newspaper, you can have full digital access to all news, analysis, and much more.
You can also follow AzerNEWS on Twitter @AzerNewsAz or Facebook @AzerNewsNewspaper
Thank you!