EU plans rapid approval of satellite joint venture rivaling SpaceX, has held in-depth talks with Leonardo, Airbus, and Thales

According to people familiar with the matter, the European Union is pushing for rapid approval of a satellite joint venture. The project is seen as the EU's answer to SpaceX, and the EU has held intensive consultations with its partners Leonardo, Airbus, and Thales. The source, who declined to be named, said discussions over the past year focused on identifying and eliminating all potential competition concerns before the project is formally submitted for approval. The companies have not yet filed their notification, but EU officials expect them to do so in the coming weeks, the source added. The joint venture, named Project Bromo, is championed by European Commission President Ursula von der Leyen, who said it has the potential to create a European champion and should receive top-level support. However, her deputy, EU competition chief Teresa Ribera, warned that the project should not expect regulators to wave it through.