LA PLATA, Maryland — Leonardo SpA Chief Executive Roberto Cingolani said the improved performance of the company’s Space division, and the likelihood that it will continue, raises questions about whether a space merger with Airbus and Thales Group will add shareholder value.
Leonardo has never been as dependent on satellite telecommunications as Airbus and Thales. It’s one reason why Leonardo has just 33% of Thales Alenia Space, while Thales has 67%.
But the lack of telecom exposure that has penalized . . .
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