Shares of European aerospace and defense companies Airbus, Leonardo and Thales rose after reports that the European Commission is preparing to fast-track antitrust approval for their satellite joint venture. [10, 11, 13]
Known as Project Bromo, the venture aims to create a European competitor to companies such as SpaceX and reduce the continent’s reliance on American satellite providers. [1, 4, 8]
The companies have held extensive preliminary talks with regulators for more than a year to address potential competition concerns. A formal approval filing is expected in the coming weeks. [4, 5, 6]
European Commission President Ursula von der Leyen has publicly supported the project, calling it a potential “European champion.” The EU’s competition commissioner has cautioned that the venture will receive no preferential treatment and must comply with all regulations. [1, 2, 6]