European Aerospace Giants Set to Merge Satellite Divisions

Leonardo, Airbus, and Thales, three leading European aerospace companies, have reportedly agreed on a framework to merge their satellite divisions. The agreement awaits board and regulatory approvals, with Leonardo set to discuss the merger in a meeting. This consolidation aims to strengthen their competitive position in the global market.

In a significant development for the European aerospace sector, Leonardo, Airbus, and Thales have reportedly reached a framework agreement to merge their respective satellite divisions. According to sources familiar with the negotiations, the deal is aimed at consolidating their presence in the competitive global satellite market.

Leonardo is slated to convene an extraordinary board meeting on Tuesday to iron out the details of this high-profile deal. The merger, which could reshape the landscape of European aerospace endeavors, will require both board and regulatory approvals before it can proceed.

The potential merger aligns with ongoing strategies to boost competitiveness and innovation in the satellite sector, as Europe seeks to position itself as a global leader in aerospace technologies.

(With inputs from agencies.)