Italian politicians this week will likely begin to debate the proposed defense electronics joint venture between Fin-mecannica and BAE Systems, while at the industrial level the two incipient partners continue to attempt to thrash out a deal over their respective stakes in the proposed company. The two had hoped to ink a memorandum of understanding (MoU) covering the creation of Eurosystems on Dec. 20, 2002. However, concern and opposition within Italy―at the industrial and political level―over Finmeccanica taking only a minority share in the joint venture has slowed progress. Signature of the MoU has been delayed at least until later in January, or more probably February, which would clear the way to begin due diligence and legal assessment of the proposal.
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