EU Said to Plan Fast-Track Antitrust Review of European Satellite Joint Venture to Rival SpaceX

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Spots are limited, so act fast. Let us join together for this appointment with sustainability! [Click to register] According to people familiar with the matter, the European Union is seeking a fast-track antitrust review of a satellite joint venture seen as Europe's answer to SpaceX, after intensive consultations with project partners Leonardo SpA, Airbus, and Thales.

People familiar with the matter who requested anonymity because the discussions are not public said the talks over the past year focused on identifying and resolving any potential competition concerns before the project is formally submitted for approval. The person said that although the companies have not yet formally filed, EU officials expect to receive the application within the coming weeks.

The joint venture, called Project Bromo, has been praised by European Commission President von der Leyen, who believes it could become a European industry leader and should receive high-level support. However, EU competition chief Teresa Ribera warned that the project cannot expect regulators to simply wave it through.

The plan aims to establish a company to help Europe reduce its reliance on U.S. satellite service providers such as Elon Musk's SpaceX. The joint venture will also be one of the first cases to test the EU's new approach to merger review. The new review approach is more conducive to building large European companies to compete with rivals.

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