BREAKING: The European Union is reportedly preparing to fast-track approval of a major satellite joint venture between Airbus, Leonardo and Thales, aimed at creating a European aerospace competitor to SpaceX. According to Bloomberg, EU regulators have been working with the three companies to address potential antitrust concerns before they formally apply for approval, which is expected in the coming weeks. Known as Project Bromo, the proposed venture would combine major parts of Europe's satellite manufacturing industry to strengthen its ability to compete with SpaceX and other global space companies. European Commission President Ursula von der Leyen has previously expressed support for creating a European aerospace champion. The joint venture has not yet received regulatory approval, and the companies have not formally submitted their application.