15.09.2023

BERLIN, The German government on Wednesday forbid the complete takeover of satellite startup KLEO Connect by a Chinese firm, two government sources told Reuters.

The cabinet agreed a decision by the economy ministry not to let Shanghai Spacecom Satellite Technology, which already has 53% of the company, acquire the 45% minority stake of German company EightyLeo, according to the sources.

KLEO Connect wants to establish a network of more than 300 small, low earth orbit satellites to be fully operational by 2028 along with the ground infrastructure to provide global communications services - similar to SpaceX with its project Starlink.

Quelle: Reuters