A merger between Thales and SAGEM Defence Securite, the defence and security unit of Safran, “would make sense” although Sagem is not for sale, Thales chairman Denis Ranque says.

Earlier this week, French media reported Thales and Safran were preparing to start merger plans.

Commenting on the report, Ranque says Thales is interested in expanding and is exploring all possibilities.

“It would make sense, if [Sagem] is involved in the same sectors, but as far as I know it is not for sale,” Ranque says.

A merger between Thales and Safran would create the world’s second largest aerospace equipment supplier after General Electric, with sales of €24bn.

By staff writer