Story perspectives

European Giants Launch €10B Satellite Venture to Compete Globally

9/15/2025

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Summary

Story summary

European aerospace firms Leonardo, Thales, and Airbus are forming a joint venture for satellite manufacturing valued at 10 billion euros ($11.7 billion).
Named "Project Bromo," it aims to rival U.S. and Chinese competitors like Starlink.
Talks resumed after earlier governance and valuation disputes.
A memorandum of understanding may be signed by the end of September, pending delicate negotiations.
The venture requires political approval due to sensitive assets and government shareholders.

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Story summary

European aerospace firms Leonardo, Thales, and Airbus are forming a joint venture for satellite manufacturing valued at 10 billion euros ($11.7 billion).
Named "Project Bromo," it aims to rival U.S. and Chinese competitors like Starlink.
Talks resumed after earlier governance and valuation disputes.
A memorandum of understanding may be signed by the end of September, pending delicate negotiations.
The venture requires political approval due to sensitive assets and government shareholders.