Canada Said to Pick TKMS as Preferred Bidder for New Submarines

Canada is set to name TKMS (TKMS.F) as its preferred bidder to build 12 submarines for the Royal Canadian Navy, Canadian newspaper Globe and Mail wrote Monday, citing two sources. Prime Minister Mark Carney is expected to announce the decision the same day, bringing the competition between German shipbuilder TKMS and South Korea's Hanwha to a close. TKMS did not immediately respond to a request for comment.