EU to fast-track merger of three European firms in Project Bromo satellite venture
The EU plans to speed up antitrust approval for Project Bromo, a satellite venture. The source links the move to the aim of reducing reliance on US satellites.
The European Union plans to fast-track antitrust approval for Project Bromo, a satellite venture. The project would merge three European firms into a single company that could rival the US company SpaceX.
The source says Europe wants to end its reliance on US satellites. The article's headline states that US satellites failed Ukraine this week, but the text provided does not explain what happened.
The source text does not name the three companies, the size of the deal, the timetable or the exact approval procedure. It is therefore unclear how quickly the merger could be cleared or on what conditions.
