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...