Negotiations are underway between Italy and SpaceX for a $1.6 billion telecommunications security service transaction.
Italy is in deep negotiations with Elon Musk's space exploration technology company, SpaceX, on a 1.5 billion euro (1.6 billion USD) agreement.
According to reports from foreign media quoting informed sources, Italy is in deep negotiations with Elon Musk's space exploration technology company SpaceX on a 1.5 billion euro (1.6 billion US dollars) agreement, which will provide secure telecommunications services for the Italian government.
Although the negotiations are still ongoing and a final agreement on the five-year contract has not been reached, the project has received approval from the Italian intelligence agencies and the Italian Ministry of Defense.
The deal has been under review since mid-2023, and some Italian officials have expressed concerns about its impact on local aviation companies, opposing the deal.
Earlier, Italian Prime Minister Meloni met with US President-elect Trump at the Sea Lake Manor on Saturday. Meloni has recently established a close relationship with Trump ally Musk, and she said she is "ready to work with the new government."
The agreement reportedly includes providing top-of-the-line encryption technology for telephone and internet services used by the Italian government.
It also includes providing communication services for the Italian military in the Mediterranean region, and launching direct-to-cellular satellite services in Italy for emergency situations such as terrorist attacks or natural disasters.
Last month, foreign media reported that Italy plans to start testing as early as January 2025 to see if the satellite connections provided by SpaceX's Starlink can help promote high-speed internet access in the country.
In 2024, SpaceX's Starlink had already enlisted more than 20 countries in its satellite internet service, with countries using the low-orbit satellite network including the US, UK, Canada, France, Germany, Austria, Ireland, the Netherlands, Belgium, Switzerland, Denmark, Australia, Portugal, New Zealand, and others.
Related Articles

"US stock market rebound is about to peak? BofA strategist warns: beware of 'good news' coming to an end"

The People's Bank of China issues the "Administrative Measures for Data Security in the Business Area of the People's Bank of China."
.png)
State Administration of Foreign Exchange: China's current account surplus was 1.1885 trillion yuan in the first quarter.
"US stock market rebound is about to peak? BofA strategist warns: beware of 'good news' coming to an end"

The People's Bank of China issues the "Administrative Measures for Data Security in the Business Area of the People's Bank of China."

State Administration of Foreign Exchange: China's current account surplus was 1.1885 trillion yuan in the first quarter.
.png)
RECOMMEND

General Administration of Customs: China's goods trade imports and exports increased by 2.4% year-on-year in the first 4 months.
09/05/2025

Key details are yet to be finalized. The market's response to the US-UK trade agreement has been lukewarm.
09/05/2025

Risk assets rebounded to boost the market, Bitcoin surged back above $100,000.
09/05/2025