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France confirms that the European satellite venture talks have progressed

The French industry minister said that efforts to create a European alliance of space projects involving Leonardo in Italy, Thales in France and Airbus, aimed at competing with Elon Musk's Starlink, are progressing.

"It is a project that we support." "The talks are progressing in a positive manner," Marc Ferracci, France's ambassador to Italy, said during a Paris meeting with Adolfo Urso.

Urso stated that negotiations were aimed at giving both countries equal standing in the project. The project was endorsed by French president Emmanuel Macron in June at the Paris Airshow.

Leonardo, Thales, and Airbus are exploring the possibility of establishing a satellite manufacturing company under the "Project Bromo" name, named after an Indonesian volcanic cone. The aim is to compete better with the U.S.A. and China. However, progress has so far been modest.

Leonardo's CEO Roberto Cingolani stated last month that Leonardo and the other three companies will make a new assessment of the deal by the end July. (Reporting and editing by Giulia Sereti, Alvise Armillini, Sudip Kar Gupta)

(source: Reuters)