By Giulia Segreti and Tim Hepher

ROME/PARIS (Reuters) -European aerospace groups Leonardo, Airbus and Thales have reached a framework deal on a proposed merger of their satellite businesses, two sources familiar with the matter said on Monday.

Leonardo is scheduled to hold an extraordinary board meeting on Tuesday to discuss details of the deal, which is subject to board and regulatory approvals, one of the sources said.

Leonardo, Thales and Airbus declined to comment.

PROPOSED VENTURE AIMS TO COMPETE WITH ELON MUSK

Europe’s largest satellite makers have been in talks for more than a year to create a new satellite manufacturing company to compete on a larger scale with rivals led by Elon Musk’s SpaceX, which owns the highly successful Starlink service.

Reuters reported last month tha

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