By Pierre Briancon
French-German group KNDS pulled its listing, blaming market volatility. Its German family co-owner may have balked at a mere €12 bln value. But with defence stocks plateauing and Paris and Berlin set as co-owners, holding out may not fetch much more.
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CONTEXT NEWS
Franco-German defence group KNDS has put plans for a stock market listing on hold until market conditions improve, it said on July 1, shelving what would have been one of Europe's largest defence IPOs in recent years.
KNDS said last month it planned to list shares in Frankfurt and Paris.