{"id":140088,"date":"2025-10-23T08:17:07","date_gmt":"2025-10-23T08:17:07","guid":{"rendered":"https:\/\/www.europesays.com\/ie\/140088\/"},"modified":"2025-10-23T08:17:07","modified_gmt":"2025-10-23T08:17:07","slug":"europe-firms-agree-satellite-merger-to-counter-starlink","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/ie\/140088\/","title":{"rendered":"Europe firms agree satellite merger to counter Starlink"},"content":{"rendered":"<ul data-testid=\"Summary\" class=\"summary-module__summary__QjADA\">\n<li data-testid=\"Body\" class=\"text-module__text__0GDob text-module__dark-grey__UFC18 text-module__regular__qJJtA text-module__small__sph8i body-module__base__o--Cl body-module__small_body__gOmDf summary-module__point__UgXPz\">New group to have proforma revenues of 6.5 bln euros<\/li>\n<li data-testid=\"Body\" class=\"text-module__text__0GDob text-module__dark-grey__UFC18 text-module__regular__qJJtA text-module__small__sph8i body-module__base__o--Cl body-module__small_body__gOmDf summary-module__point__UgXPz\">Airbus to own 35% of new company<\/li>\n<li data-testid=\"Body\" class=\"text-module__text__0GDob text-module__dark-grey__UFC18 text-module__regular__qJJtA text-module__small__sph8i body-module__base__o--Cl body-module__small_body__gOmDf summary-module__point__UgXPz\">Thales and Leonardo to each own 32.5%<\/li>\n<\/ul>\n<p>ROME\/PARIS, Oct 23 (Reuters) &#8211; European aerospace groups unveiled an initial deal on Thursday to pool their loss-making satellite manufacturing activities, combining forces after months of negotiations to counter the runaway growth of rivals led by Elon Musk&#8217;s Starlink.<\/p>\n<p>The keenly awaited deal between Airbus <a data-testid=\"Link\" target=\"_blank\" referrerpolicy=\"no-referrer-when-downgrade\" href=\"https:\/\/www.reuters.com\/markets\/companies\/AIR.PA\" rel=\"noopener nofollow\" class=\"text-module__text__0GDob text-module__inherit-color__PhuPF text-module__inherit-font__1P1hv text-module__inherit-size__EyiQW link-module__link__INqxZ link-module__underline_default__-okuC link-module__with-icon__qlg76\">(AIR.PA), opens new tab<\/a>, Thales <a data-testid=\"Link\" target=\"_blank\" referrerpolicy=\"no-referrer-when-downgrade\" href=\"https:\/\/www.reuters.com\/markets\/companies\/TCFP.PA\" rel=\"noopener nofollow\" class=\"text-module__text__0GDob text-module__inherit-color__PhuPF text-module__inherit-font__1P1hv text-module__inherit-size__EyiQW link-module__link__INqxZ link-module__underline_default__-okuC link-module__with-icon__qlg76\">(TCFP.PA), opens new tab<\/a> and Leonardo <a data-testid=\"Link\" target=\"_blank\" referrerpolicy=\"no-referrer-when-downgrade\" href=\"https:\/\/www.reuters.com\/markets\/companies\/LDOF.MI\" rel=\"noopener nofollow\" class=\"text-module__text__0GDob text-module__inherit-color__PhuPF text-module__inherit-font__1P1hv text-module__inherit-size__EyiQW link-module__link__INqxZ link-module__underline_default__-okuC link-module__with-icon__qlg76\">(LDOF.MI), opens new tab<\/a> aims to forge a new venture starting from 2027, subject to approval by European regulators who have resisted such moves in the past.<\/p>\n<p data-testid=\"promo-box\" class=\"text-module__text__0GDob text-module__dark-grey__UFC18 text-module__regular__qJJtA text-module__small__sph8i body-module__base__o--Cl body-module__small_body__gOmDf article-body-module__promo-box__hVl8h\"> Sign up  <a data-testid=\"Link\" referrerpolicy=\"no-referrer-when-downgrade\" href=\"https:\/\/www.reuters.com\/business\/aerospace-defense\/europe-firms-agree-satellite-merger-counter-starlink-2025-10-23\/undefined?location=article-paragraph&amp;redirectUrl=%2Fbusiness%2Faerospace-defense%2Feurope-firms-agree-satellite-merger-counter-starlink-2025-10-23%2F\" class=\"text-module__text__0GDob text-module__inherit-color__PhuPF text-module__inherit-font__1P1hv text-module__inherit-size__EyiQW link-module__link__INqxZ link-module__underline_default__-okuC\" rel=\"nofollow noopener\" target=\"_blank\">here.<\/a><\/p>\n<p>The unnamed new entity will employ 25,000 people across Europe with annual revenues of 6.5 billion euros ($7.58 billion), based on 2024 figures, the companies said in a statement.<\/p>\n<p>Airbus will hold 35%, while Thales and Leonardo will each hold 32.5%, the statement said, adding it would operate under joint control &#8220;with a balanced governance structure&#8221;.<\/p>\n<p>The space combination is expected to generate &#8220;mid-triple digit&#8221; millions of euros of synergies on operating income per year, starting after five years, the companies said.<\/p>\n<p>Code-named &#8220;Project Bromo,&#8221; talks between the three aerospace groups started last year in a bid to copy the co-operation model of European missile maker MBDA, which is owned by Airbus, Leonardo and BAE Systems <a data-testid=\"Link\" target=\"_blank\" referrerpolicy=\"no-referrer-when-downgrade\" href=\"https:\/\/www.reuters.com\/markets\/companies\/BAES.L\" rel=\"noopener nofollow\" class=\"text-module__text__0GDob text-module__inherit-color__PhuPF text-module__inherit-font__1P1hv text-module__inherit-size__EyiQW link-module__link__INqxZ link-module__underline_default__-okuC link-module__with-icon__qlg76\">(BAES.L), opens new tab<\/a>.<\/p>\n<p>Item 1 of 4 A satellite model is placed on a picture of Earth in this illustration taken November 25, 2024. REUTERS\/Dado Ruvic\/Illustration<\/p>\n<p><b data-testid=\"Body\" class=\"text-module__text__0GDob text-module__dark-grey__UFC18 text-module__medium__2Rl30 text-module__inherit-size__EyiQW body-module__base__o--Cl body-module__ultra_small_body__WelUC primary-gallery-module__pagination__3IXiB\">[1\/4]<\/b>A satellite model is placed on a picture of Earth in this illustration taken November 25, 2024. REUTERS\/Dado Ruvic\/Illustration <a data-testid=\"Link\" target=\"_blank\" referrerpolicy=\"no-referrer-when-downgrade\" href=\"https:\/\/www.reutersconnect.com\/item\/illustration-shows-a-satellite-model-placed-on-picture-of-earth\/dGFnOnJldXRlcnMuY29tLDIwMjQ6bmV3c21sX1JDMklDQkFOWFdQTw%3D%3D\/?utm_medium=rcom-article-media&amp;utm_campaign=rcom-rcp-lead\" rel=\"noopener nofollow\" class=\"text-module__text__0GDob text-module__inherit-color__PhuPF text-module__inherit-font__1P1hv text-module__inherit-size__EyiQW link-module__link__INqxZ link-module__underline_default__-okuC link-module__with-icon__qlg76 collapsible-caption-module__license__CPQvV\">Purchase Licensing Rights, opens new tab<\/a><\/p>\n<p>Europe&#8217;s top satellite makers have long competed to build complex spacecraft in geostationary orbit but have been hit by the arrival of cheap tiny satellites in low Earth orbit.<\/p>\n<p>The CEOs of the three companies said in a joint declaration that the merger would help governments ensure &#8220;Europe\u2019s autonomy across the strategic space domain&#8221;.<\/p>\n<p>The deal will combine manufacturing and services activities of Thales Alenia Space and Telespazio &#8211; two joint ventures between Leonardo and Thales &#8211; as well as various Airbus space and digital businesses, the remaining space activities owned by Leonardo and Thales SESO.<\/p>\n<p>The companies, who have already cut a combined total of some 3,000 jobs in space, made no mention of any further job cuts, but said unions would be consulted on the project.<\/p>\n<p>Reuters reported earlier this week that the three aerospace groups had <a data-testid=\"Link\" referrerpolicy=\"no-referrer-when-downgrade\" href=\"https:\/\/www.reuters.com\/business\/aerospace-defense\/european-groups-reach-framework-deal-satellite-merger-sources-say-2025-10-20\/\" class=\"text-module__text__0GDob text-module__inherit-color__PhuPF text-module__inherit-font__1P1hv text-module__inherit-size__EyiQW link-module__link__INqxZ link-module__underline_default__-okuC\" rel=\"nofollow noopener\" target=\"_blank\">reached a framework<\/a> deal on a proposed tie-up of their satellite businesses.Agreement between the three companies &#8211; each of which has had periods of prickly relations in the past &#8211; was salvaged after <a data-testid=\"Link\" referrerpolicy=\"no-referrer-when-downgrade\" href=\"https:\/\/www.reuters.com\/business\/autos-transportation\/thales-airbus-leonardo-eye-initial-agreement-10-bln-euro-satellite-jv-sources-2025-09-12\/\" class=\"text-module__text__0GDob text-module__inherit-color__PhuPF text-module__inherit-font__1P1hv text-module__inherit-size__EyiQW link-module__link__INqxZ link-module__underline_default__-okuC\" rel=\"nofollow noopener\" target=\"_blank\">sources familiar<\/a> with the matter said the talks had hit obstacles over governance and valuation during the summer.<\/p>\n<p>($1 = 0.8575 euros)<\/p>\n<p data-testid=\"SignOff\" class=\"text-module__text__0GDob text-module__dark-grey__UFC18 text-module__regular__qJJtA text-module__extra_small__8Buss body-module__full_width__kCIGb body-module__extra_small_body__Bfz20 sign-off-module__text__LQAMP\">Reporting by Giulia Segreti in Rome and Tim Hepher in Paris;<br \/>\nEditing by Alvise Armellini\/Sudip Kar-Gupta<\/p>\n<p data-testid=\"Body\" dir=\"ltr\" class=\"text-module__text__0GDob text-module__dark-grey__UFC18 text-module__regular__qJJtA text-module__small__sph8i body-module__base__o--Cl body-module__small_body__gOmDf article-body-module__element__5eCce article-body-module__trust-badge__5mS3f\">Our Standards: <a data-testid=\"Link\" target=\"_blank\" referrerpolicy=\"no-referrer-when-downgrade\" href=\"https:\/\/www.thomsonreuters.com\/en\/about-us\/trust-principles.html\" rel=\"noopener nofollow\" class=\"text-module__text__0GDob text-module__dark-grey__UFC18 text-module__medium__2Rl30 text-module__small__sph8i link-module__link__INqxZ link-module__underline_default__-okuC link-module__with-icon__qlg76\">The Thomson Reuters Trust Principles., opens new tab<\/a><\/p>\n<p><a href=\"https:\/\/www.reutersagency.com\/en\/licensereuterscontent\/?utm_medium=rcom-article-media&amp;utm_campaign=rcom-rcp-lead\" target=\"_blank\" dir=\"ltr\" class=\"button-module__link__A3sD0 button-module__secondary__70gBu button-module__round__QDFgq button-module__w_auto__Sem-F\" data-testid=\"LicenceContentButton\" rel=\"nofollow noopener\">Purchase Licensing Rights<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"New group to have proforma revenues of 6.5 bln euros Airbus to own 35% of new company Thales&hellip;\n","protected":false},"author":2,"featured_media":140089,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[270],"tags":[82495,82496,82497,82772,82499,36586,82521,82517,82500,82501,82525,82502,82543,82538,82545,82546,82535,82556,82549,82541,82550,82776,82553,82536,82530,82528,82532,82531,82529,82779,82969,82555,82777,82547,82539,82557,82537,82540,82554,82552,82548,82551,82544,18,55396,82523,82520,82522,32356,82527,82516,45748,19,82504,82505,17,1355,82966,82506,82507,82526,82780,82970,82508,82510,82964,82511,82512,133,451,82965,82968,82513,753,30150,82534,82533,82967,82518],"class_list":{"0":"post-140088","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-space","8":"tag-aer","9":"tag-aero","10":"tag-aero1","11":"tag-afr","12":"tag-bact","13":"tag-biz","14":"tag-blux","15":"tag-ceeu","16":"tag-cmpny","17":"tag-comair","18":"tag-de","19":"tag-deal1","20":"tag-destabn","21":"tag-destabx","22":"tag-destafa","23":"tag-destbnx","24":"tag-destcsa","25":"tag-destd","26":"tag-destdnp","27":"tag-deste","28":"tag-destfun","29":"tag-destg","30":"tag-destgns","31":"tag-destlby","32":"tag-destocabsm","33":"tag-destoukbsm","34":"tag-destouktpm","35":"tag-destousbsm","36":"tag-destoustcm","37":"tag-destoustpm","38":"tag-destouswdm","39":"tag-destpco","40":"tag-destpge","41":"tag-destpsc","42":"tag-destrast","43":"tag-destrbn","44":"tag-destreulb","45":"tag-destrnp","46":"tag-destrws","47":"tag-destrwsa","48":"tag-destu","49":"tag-destucdptest","50":"tag-destuki","51":"tag-eire","52":"tag-emea","53":"tag-es","54":"tag-europ","55":"tag-ezc","56":"tag-fin","57":"tag-fr","58":"tag-gb","59":"tag-gen","60":"tag-ie","61":"tag-indg","62":"tag-inds","63":"tag-ireland","64":"tag-it","65":"tag-mr","66":"tag-mrg","67":"tag-news1","68":"tag-nl","69":"tag-packageus-top-news","70":"tag-packageworld-news","71":"tag-pol","72":"tag-publ","73":"tag-regs","74":"tag-sats","75":"tag-sci","76":"tag-science","77":"tag-space","78":"tag-spacem","79":"tag-spc","80":"tag-spex","81":"tag-tech","82":"tag-tmt","83":"tag-topcmb","84":"tag-topnws","85":"tag-wafr","86":"tag-weu"},"share_on_mastodon":{"url":"","error":"Validation 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