Story perspectives

Major Satellite Merger to Challenge SpaceX's Starlink

10/21/2025

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Summary

Story summary

Leonardo S.p.A., Airbus SE, and Thales Group are negotiating a satellite-business merger to compete with SpaceX's Starlink.
An extraordinary board meeting is set for Tuesday to discuss the deal, which requires regulatory approvals.
Dubbed Project Bromo, the merger would form a roughly €10 billion joint venture amid a $665 billion market in manufacturing and launch services.
Governance disputes and a European Commission competition review pose challenges.

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Story summary

Leonardo S.p.A., Airbus SE, and Thales Group are negotiating a satellite-business merger to compete with SpaceX's Starlink.
An extraordinary board meeting is set for Tuesday to discuss the deal, which requires regulatory approvals.
Dubbed Project Bromo, the merger would form a roughly €10 billion joint venture amid a $665 billion market in manufacturing and launch services.
Governance disputes and a European Commission competition review pose challenges.