XM does not provide services to residents of the United States of America.

German defence minister seeks 4.7 bln euro deal to buy four submarines, sources say



<html xmlns="http://www.w3.org/1999/xhtml"><head><title>REFILE-UPDATE 1-German defence minister seeks 4.7 bln euro deal to buy four submarines, sources say</title></head><body>

Adds dropped word 'say' to headline

BERLIN, Nov 29 (Reuters) -German Defence Minister Boris Pistorius wants to purchase four submarines in a deal worth over 4.7 billion euros ($5 billion) that must be put to a parliamentary spending committee for approval, two sources told Reuters on Friday, confirming a news report.

In a request submitted to the committee, the ministry says the acquisition is needed for Germany to fulfil new NATO requirements for better protection of the alliance's northern flank, according toSpiegel news magazine, which has seen the documents.

Spiegel reported that the ministry is seeking to procure four more submarines of the type U212CD, manufactured by Thyssenkrupp Marine Systems TKAG.DE.

Members of the budget committee told Reuters that they are analysing the proposal.

"We are paying particular attention to the proposal to purchase additional submarines due to its importance in terms of security policy, but also because of the high amount of funds required," Karsten Klein, member of the budget committee from the Free Democrats (FDP), said.

($1 = 0.9446 euros)



Reporting by Rachel More and Maria Martinez, editing by Thomas Seythal

</body></html>

Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.

All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.

Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.

Risk Warning: Your capital is at risk. Leveraged products may not be suitable for everyone. Please consider our Risk Disclosure.