Shares in Rheinmetall (ETR:RHMG) rose in early European trading on Wednesday on a report that the Italian government is planning to buy hundreds of tanks from the German defense firm.
The order would be the largest in Rheinmetall's history, amounting to around 20 billion euros, according to a report in the business daily Handelsblatt.
Citing industry sources, Handelsblatt said that Rome would buy at least 350 Lynx armored fighting vehicles as well as over 200 Panther battle tanks over a 15-year period.
Shares in Rheinmetall's Italian peer Leonardo (BIT:LDOF) were also higher on the Handelsblatt report. In June, Reuters said that Rheinmetall was in negotiations with Leonardo over a possible strategic partnership on tanks.
