Leonardo CEO says merger with Fincantieri would be "wrong use of time" - paper

MILAN - The chief executive of Italy's Leonardo does not see any synergies between the state-controlled defence group and shipbuilder Fincantieri, adding a potential merger between the two companies would be a "wrong use of time".

In an interview with Italian daily la Repubblica published on Tuesday, Alessandro Profumo added the decision to keep or sell Leonardo's unit OTO Melara did not "depend only on us" and required a "wider reflection at country-level".