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Investing.com -- Italian Defence Minister Guido Crosetto said on Tuesday that Iveco’s defence unit should remain under Italian ownership due to its importance to the country’s industrial sector.
Speaking to reporters at the Paris air show, Crosetto acknowledged the ongoing consolidation in the defence sector while emphasizing his preference for keeping the unit under domestic control.
"There is a very important consolidation in the sector. I don’t know what decisions the Iveco Defence shareholders will make but I think it should remain Italian because it is an important part of Italian industry," Crosetto said.
Iveco, which is controlled by Exor (AS:EXOR), the investment company owned by Italy’s Agnelli family, announced earlier this year that it was exploring options for its defence unit, known as IDV. These options include potentially spinning off or selling the business.
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