Krauss-Maffei Wegmann and Nexter could agree merger this week
German armored vehicle producer Krauss-Maffei Wegmann (KMW) and French state-owned rival Nexter could agree merger terms this coming week, German daily Der Tagesspiegel reported in an unsourced report.
The report said the German Federal Ministry of Economics has one month to examine whether the deal complies with foreign trade laws. Should no objections arise, the deal will be considered permissible. the article said.
The Ministry would still have the right to block the deal or clear it under certain conditions, the report explained. The merged company would have around 6,000 employees and revenues of almost EUR 2bn, the report noted.
The original article appeared in print on Saturday 11 July, page 9.
Der Tagesspiegel