EU moves toward fast-track approval of Airbus, Leonardo, Thales satellite

What happened: EU regulators are preparing a potentially expedited antitrust review of Project Bromo, a satellite joint venture involving Airbus (EADSF)(EADSY), Leonardo (FINMF)(FINMY) and Thales (THLEF)(THLLY), Bloomberg News reported. Key numbers: Companies are expected to seek approval in the coming weeks. Why it matters: A swift approval could remove a major obstacle to European aerospace consolidation and set a precedent for mergers in strategically important industries. Labor unions and suppliers oppose the plan over job losses and reduced competition.

EU regulators are preparing a potentially expedited antitrust review of Project Bromo, a satellite joint venture involving Airbus (EADSF)(EADSY), Leonardo (FINMF)(FINMY) and Thales (THLEF)(THLLY), Bloomberg News reported.

A swift approval could remove a major obstacle to European aerospace consolidation and set a precedent for mergers in strategically important industries. Labor unions and suppliers oppose the plan over job losses and reduced competition.