Italian defence giant Leonardo said Thursday that it has reached an agreement to merge its space businesses with those of Airbus and Thales.
    In a statement, the companies said the operation would "strengthen Europe's strategic autonomy in space, a major sector that underpins critical infrastructure and services related to telecommunications, global navigation, earth observation, science, exploration and national security.
    "This new player will be able to foster innovation, combine and strengthen investments in future space products and services, building on the complementary assets and world-class expertise of all three companies.
    "The combination is expected to generate mid triple digit million euro of total annual synergies on operating income five years after closing".
    Leonardo's share price rose 2.9% in early trading on the Milan stock exchange after the announcement.

ALL RIGHTS RESERVED © Copyright ANSA