Leonardo CEO says merger with Fincantieri would be "wrong use of time," la Repubblica reports

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Leonardo CEO Alessandro Profumo speaks to reporters at the foreign press association in Rome, Italy, April 12, 2022. REUTERS/Guglielmo Mangiapane

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MILAN, May 24 (Reuters) - The chief executive of Italy's Leonardo (LDOF.MI) does not see any synergies between the state-controlled defence group and shipbuilder Fincantieri (FCT.MI), 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".

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Reporting by Cristina Carlevaro, editing by Agnieszka Flak

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