France and Germany reached a deal to jointly govern KNDS, a major European arms manufacturer producing tanks and military systems, clearing the path for an anticipated IPO valued at €15–20 billion. The agreement underscores Europe's push to strengthen defense industrial capacity independently amid Russian hostilities and deteriorating transatlantic ties, signaling a consolidation of the continent's military-industrial base. The deal revives prospects for the delayed Main Ground Combat System battle tank initiative, though regulatory approvals must move rapidly to meet the targeted July IPO launch.
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