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    Rheinmetall plunges on reports that Germany plans to scrap frigate project

    Picture of TKMS AG & Co KgaA logoTKMS AG & Co KgaA
    24/06/2026 08:27
    Rheinmetall plunges on reports that Germany plans to scrap frigate project
    
    June 24 (Reuters) - Rheinmetall shares RHMG.DE were down 13% at 0716 GMT, on track for their worst day in more than two decades, after German magazine Der Spiegel and the Financial Times reported Germany plans to scrap a delayed multibillion-euro frigate project.
    Rheinmetall was poised to sign a contract to take over the F126 frigate programme from Dutch shipbuilder Damen in the second quarter, CEO Armin Papperger said last month.

     (Reporting by Emanuele Berro; Editing by Christoph Steitz)
     ((Emanuele.Berro@thomsonreuters.com; +48 587696510))

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