Airbus is seeking to secure EU backing for a merger with Leonardo and Thales in the space sector by proposing divestments that would satisfy competition authorities in Brussels.
The DAX index stayed in positive territory while Brent oil jumped over four percent amid new tensions in the Iran conflict, and Airbus shares surged more than six percent.
Airbus SE, Leonardo SpA, and Thales SA are forming a satellite joint venture that will serve as a test case for the EU’s newly revamped merger framework, which has been reformed to enable the creation of globally competitive European champions to rival companies like Elon Musk’s SpaceX.