European Aerospace Giants Seal Satellite Merger Framework

European aerospace companies Leonardo, Airbus, and Thales have agreed on a framework deal to merge their satellite divisions. This proposed merger, subject to approvals, positions them to strengthen satellite market presence. Leonardo is slated for a crucial board meeting to review the agreement's details.

In a significant move within the aerospace industry, European giants Leonardo, Airbus, and Thales have successfully reached a framework agreement to merge their satellite businesses. The merger, aimed at enhancing their competitive edge in the satellite sector, was confirmed by two sources privy to the negotiations.

Leonardo is poised to further discuss the intricacies of this agreement during an extraordinary board meeting scheduled for Tuesday. The deliberation at this meeting will focus on the final terms and conditions that will secure board and regulatory nods.

This consolidation is seen as a strategic push to expand their collective market presence and technological capabilities in the evolving global satellite landscape.

(With inputs from agencies.)