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Posted on 06/25/2026 8:56:37 PM PDT by SeekAndFind
Airbus, Leonardo and Thales announced Thursday that they will combine their satellite and space activities to form a “leading European player in space,” as the region looks for a homegrown rival to Elon Musk’s Starlink.
The companies — each a heavyweight in the aerospace and defense sector in their own right — said the joint venture would develop and build, “a comprehensive portfolio of complementary technologies and end-to-end solutions, from space infrastructure to services.” The development of space launchers will be excluded from the new company’s operations.
The combined entity is expected to generate mid-triple-digit million euros in annual synergies on operating income within five years of closing, and it’s set to employ 25,000 people across Europe.
European defense stocks jumped on Thursday, with the regional Stoxx Aerospace and Defense index adding 0.9%. Leonardo shares were last seen trading 1.8% higher, while Thales gained 0.6% and Airbus was up by 0.2%.
Airbus will be the majority owner of the new joint venture with a 35% stake, and will contribute its Space Systems and Space Digital businesses from its defense and space division. Leonardo and Thales will each hold a 32.5% stake in the new company.
Leonardo’s contribution will be its entire Space division, including its shares in Rome-based spaceflight services firm Telespazio and Thales Alenia Space, an existing joint venture with Thales. Thales will also add its stake in Thales Alenia Space to the new company, as well as its Thales SESO operation.
The firms said the new space entity would be “a unified, integrated and resilient European space player, with the critical mass to compete globally and grow on the export markets.”
“This new company also intends to serve as the trusted partner for developing and implementing national sovereign space programs,” they added.
(Excerpt) Read more at cnbc.com ...
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The pitch is simple: Europe has the brains, the factories and the technology. But what it lacks is the scale, speed, and balance sheet muscle to stop getting lapped in space.
A DEI Starlink.
Like Musk, but with Socialism!
A day in life of a European VC:
09:45: Wake up in the apartment 1 hour from Berlin
11:30: Receive a pitch from a promising AI company based in North-East Belgium
11:45: Ask Google "is AI a good investment"
12:00: Three-hour lunch at a small French bistro
15:00: Send a €50k term sheet after 7 months of due diligence15:30: Write a LinkedIn post saying that Latvia is the new startup capital
16:00: Set up "out-of-office" email until September
18:30 - Post on Twitter, Facebook and Instagram that "Europe does not need American technology"
22:00 - Fall asleep proud of being the youngest partner at the firm (you are 68 years old)— Matthias Schmidt (@eurofounder) June 10, 2026
Like Musk, but without the rockets!
A pipe dream of a soon-to-be conquered continent.
Can you send up a heavy rocket, deposit its payload, catch it after re entry, refurbish it and go again in a month? Otherwise you haven’t got💩.
Competition is good, but history shows these ventures often break down along National lines
It also lacks the money.
Why can’t you lefty socialists invent something useful on your own?
Euroweenies vs. Musk????
Hahahahahahahahahahahahaha……….
Like Musk, but without the satellites!
“Competition is good, but history shows these ventures often break down along National lines”
exacatly ... e.g., France and Germany just dissolved their “partnership” to produce a nextgen fighter jet ...
The development of space launchers will be excluded from the new company’s operations.Those two statements are at odds with each other.
Yeah, I'm sure. Their launch system is ten years behind, and they only want to be able to control speech. Period.
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