European Aerospace Giants Set to Merge Satellite Divisions

Leonardo, Airbus, and Thales, prominent European aerospace firms, have reached a preliminary agreement to merge their satellite operations. The merger is pending regulatory and board approvals. Leonardo will convene an extraordinary board meeting to discuss the transaction's specifics, as per sources close to the negotiations.

Leonardo, Airbus, and Thales, leading names in European aerospace, have reportedly forged a preliminary agreement to combine their satellite businesses. The framework deal marks a significant step towards consolidating the aerospace landscape, focusing on satellite operations.

Sources privy to the discussions indicate that an extraordinary board meeting is on Leonardo's agenda for Tuesday, where the merger specifics will be deliberated.

Approval from the respective boards and regulatory entities is still required, indicating that while the framework is laid, the deal's finalization hinges on several conditions.

(With inputs from agencies.)