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Rheinmetall AG (0NI1.L)
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- Reuters SG
Deals of the day-Mergers and acquisitions
** Indian conglomerate Adani Group moved a step closer in its takeover of news broadcaster New Delhi Television Ltd with an approval from the market regulator to buy an additional 26% stake, according to a person familiar with the matter. ** Italy's Intesa Sanpaolo said it was selling its entire 5.1% stake in Nexi, in an effort to cash in on a recent rally in shares of the payments group.
- Reuters
Rheinmetall cuts sales forecast on car sector woes
German arms maker Rheinmetall lowered its sales guidance on Wednesday in light of persistently high risks in global automotive production, the company said. It now expects organic sales growth in the current fiscal year of around 15%, at the lower end of its previously set guidance range of 15-20%. Rheinmetall confirmed its previous earnings guidance for fiscal 2022, with the operating result expected to improve and the operating margin expected to come in at over 11%.
