EU plans fast-track approval for Europe’s SpaceX rival

The European Union wants to give quick antitrust approval to Project Bromo, the planned satellite venture of Leonardo, Airbus and Thales that is seen as Europe's answer to SpaceX, Bloomberg reported on Thursday, citing a person familiar with the matter. The companies have not filed yet, but EU officials expect a filing in the coming weeks.news.bloomberglaw.com

The deal is one of the first tests of Brussels' revised merger approach, which is meant to be friendlier to building European companies that can compete with U.S. and Chinese rivals, according to Investing.com's summary of the Bloomberg report.ca.investing.com

No Automatic Pass

Over the past year, talks with the European Commission have focused on spotting and resolving competition concerns before the companies formally notify the deal, Bloomberg reported. If the companies offer remedies such as asset sales, a fast-track approval could mean clearance after a Phase 1 review of just over a month. If concerns remain, regulators can open an in-depth probe that lasts several months, Investing.com reported.news.bloomberglaw.com+1

Commission President Ursula von der Leyen has praised Bromo as a possible European champion. Last month she cited it as the kind of industrial champion Europe needs to lead the future space economy, and some members of the European Parliament criticized her for it. Competition Commissioner Teresa Ribera, her second-in-command, has warned that the project will not get automatic approval, Investing.com reported. Russian outlet RBC, citing Bloomberg, reported that Ribera stressed the venture would get no special privileges.ca.investing.com+1

The Deal and Its Critics

The three companies signed a memorandum of understanding in October 2025 to combine their space businesses. Under that agreement, Airbus would own 35% and Leonardo and Thales 32.5% each, with the new company expected to start operating in 2027. The venture would have about 25,000 employees and €6.5 billion in annual revenue based on 2024 figures. It would bring together Thales Alenia Space and Telespazio with Airbus's space businesses, The Economic Times reported.economictimes.indiatimes.com+1

Rivals have pushed back. OHB CEO Marco Fuchs told Reuters the German satellite maker would consider legal action if the EU clears the deal. Spain's Indra has also warned that the merger could reduce competition in Europe's satellite market, Yahoo Finance reported. Unions and suppliers have raised concerns about jobs and competition as well, according to Investing.com.reuters.com+2

The companies say the venture needs scale to compete globally. Airbus CEO Guillaume Faury made that case to a French parliamentary committee on October 14, MLex reported. The companies have also urged regulators to treat space as a global market when they measure how concentrated the market is, Reuters reported.mlex.com+1