Germany Cancels F126 Frigate Program; Rheinmetall Shares Slide While TKMS Gains
Germany has decided to abandon plans to build six F126 frigates and will instead procure eight smaller Meko A-200 ships. The cancellation prompted a sharp drop in Rheinmetall shares and a rally in TKMS stock, and will force an estimated €2 billion write-off related to the F126 programme. Officials informed industry representatives and lawmakers of …