Italian defense giant Leonardo (LDO.MI) has reportedly changed financial advisors, replacing Bank of America with Deutsche Bank (DBK.DE) to guide its high-stakes merger discussions with Airbus (AIR.PA) and Thales (HO.PA).
According to a Bloomberg report on March 8, sources familiar with the matter revealed that the switch was driven by two key factors: potential conflicts with another Bank of America client and a broader European effort to reduce reliance on U.S. financial institutions.
Strategic Merger in European Aerospace
Leonardo, Airbus, and Thales are engaged in talks to create a European space and satellite powerhouse by merging the space and satellite divisions of Airbus and Thales. The deal, if finalized, would reshape the European aerospace sector, strengthening the continent’s autonomy in advanced satellite technology and space defense.
Europe’s Push for Financial Independence
This move aligns with a growing trend among European corporations and policymakers to shift critical financial and industrial dealings away from U.S. firms, reinforcing strategic independence in key industries like defense and aerospace.
Neither Leonardo, Airbus, nor Thales have publicly commented on the report. However, industry experts suggest that consolidating satellite operations under a European-led framework could provide a significant boost to the region’s competitive standing against global players.
