PARIS — Leonardo wants to modify its relationship with Thales Group with respect to the companies’ two Space Alliance joint ventures, Thales Alenia Space and Telespazio, but it remains unclear what the end point will be.
Leonardo Chief Executive Roberto Cingolani has made several public comments about his dissatisfaction with the current arrangement, in which Thales owns 67% of Thales Alenia Space, with Leonardo at 33%, and Leonardo has 67% of Telespazio, with Thales at 33%.
A first step, he said, will be to consolidate Telespazio into Leonardo’s financial statements . . .
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