Leonardo board meets as European satellite merger nears completion
Italy’s Leonardo convened its board on Tuesday to review a potential deal with Thales and Airbus to create a new European satellite manufacturer, according to sources familiar with the matter.
If approved, the three companies could announce an agreement this week to merge their struggling satellite divisions in a bid to compete with Elon Musk’s SpaceX and other low-orbit rivals, News.Az reports, citing Reuters.
Talks have dragged on for over a year amid disputes over valuation, power balance, and antitrust issues, and the recent political turmoil in France has further complicated the process.
The framework of the deal has been agreed in principle, pending board and regulatory approval. The partnership aims to consolidate Europe’s fragmented space industry, similar to the MBDA missile alliance formed in 2001 by France, Italy, and Britain.
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