Aerospace groups link up to create European rival to Musk’s SpaceX
by Lauren Almeida and Jasper Jolly from Science | The Guardian on (#70YY5)
Deal between Airbus, Leonardo and Thales is expected to create company with annual revenue of 5.6bn
Airbus, Leonardo and Thales have struck a deal to combine their space businesses to create a single European technology company that could rival Elon Musk's SpaceX.
The deal is expected to create a company with annual revenue of about 6.5bn (5.6bn). The French aerospace company Airbus will own 35% of the new business, with Leonardo and Thales each owning stakes of 32.5%.
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