You’ll still have to wait a little longer. Thales said on Thursday (Oct 16) that work was continuing to form a European satellite alliance with Airbus and Leonardo, responding to a media report announcing that an agreement in principle had been reached.
German newspaper Boersen-Zeitung reported Thursday that the three aerospace groups had reached an agreement in principle and added that the signing would occur in the coming days, citing unspecified sources familiar with the matter.
The project, called “Bromo”, aims to create a European giant capable of competing with the Starlink system of American businessman Elon Musk. Airbus was not immediately available for comment. Leonardo did not want to comment.
Reuters reported last month that the three groups had stepped up efforts to combine their satellite businesses into a €10 billion joint venture and were working to reach an initial deal in the coming weeks.
Michael Schoellhorn, CEO of Airbus Defense and Space, has since said that the project is on track but that several issues still need to be clarified.
At the beginning of October, BFM Business and La Tribune indicated that the different actors had not yet agreed on the distribution of shares in the new entity.
Source: BFM TV
