Power Struggle at KNDS: Germany Seeks Control

Germany's defence ministry is seeking a veto right to limit the power of the French CEO of KNDS in managing board changes, amid ongoing negotiations regarding the governance structure of the Franco-German tankmaker following its planned IPO. No decisions have been finalized yet.

Germany is reportedly pushing for a veto power over certain managerial decisions by the French CEO of KNDS, highlighting governance issues ahead of the tankmaker's upcoming IPO.

Two sources close to the matter revealed these intentions, indicating that talks about the governance structure post-listing are still in progress.

While the German defence ministry refrained from commenting, it confirmed that negotiations continue. The French defence ministry similarly opted not to comment on the developments.