0940 GMT - A merger of the space business of Airbus and Thales Alenia Space--a joint venture formed by Thales and Leonardo--would be beneficial by taking out excess capacity, Citi analysts Charles Armitage and Sam Burgess say. The impact on the three parent companies' shares will be limited, and the merger could generate savings of about 110 million euros, they add. When shared among the companies, the analysts estimate that this represents a 15% of 2024 EBIT for Airbus, 1.5% for Thales, and 1.3% for Leonardo. Airbus' shares are down 0.5% at 165.93 euros, Thales' shares are down 0.5% at 156.5 euros, and Leonardo's shares are down 1.1% at 30.24 euros. (cristina.gallardo@wsj.com)
(END) Dow Jones Newswires
February 04, 2025 04:40 ET (09:40 GMT)
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