European Aerospace Giants Align in Satellite Merger - Sources

Leonardo, Airbus, and Thales have reportedly agreed on a framework deal to merge their satellite businesses. This merger is pending board and regulatory approvals. Sources indicate Leonardo has an extraordinary board meeting scheduled to discuss the details of this significant deal in the aerospace industry.

Leading European aerospace companies Leonardo, Airbus, and Thales have reportedly secured a framework agreement for the merger of their satellite operations. According to sources familiar with the arrangement, this strategic collaboration marks a pivotal moment in the aerospace sector.

The merger plan is currently awaiting necessary board and regulatory approvals. To delve into the intricacies of the agreement, Leonardo is preparing for an extraordinary board meeting slated for Tuesday, sources disclosed.

This proposed union among three heavyweights of the European aerospace industry is seen as a significant step towards consolidating their technological capabilities, capitalizing on economies of scale, and enhancing competitive positioning on the global stage.

(With inputs from agencies.)