The European Union is seeking to fast-track antitrust approval for a proposed satellite joint venture designed to reduce Europe’s dependence on American providers, including Elon Musk’s SpaceX, according to a Bloomberg report published Thursday.

The initiative, known as Project Bromo, would bring together three major European aerospace and defense companies: Italy’s Leonardo SpA, Airbus SE and France’s Thales SA. The venture is intended to help Europe develop a stronger position in the increasingly competitive space economy.

European Commission President Ursula von der Leyen has publicly supported the initiative, describing it as an example of the kind of European industrial champion needed to compete with major global rivals.

Discussions over the past year have focused on addressing potential competition concerns before the companies formally submit their proposal to EU regulators. The companies have not yet filed their notification, but officials expect them to do so in the coming weeks, Bloomberg reported, citing a person familiar with the matter.

Teresa Ribera, the European Commission’s executive vice president responsible for competition policy, has cautioned that political support will not guarantee approval. Speaking to Bloomberg TV, Ribera said von der Leyen’s endorsement “doesn't mean we are not going to apply and to enforce our own regulation.”

Under the EU’s merger review process, regulators typically hold preliminary discussions with companies involved in major transactions to identify and address potential competition concerns before a formal filing.

Project Bromo could receive clearance through an initial Phase 1 review lasting just over a month, potentially with concessions such as divestments. If regulators determine that significant concerns remain, they can open a more extensive investigation lasting several months before deciding whether to approve or block the venture.

The European Commission, Airbus and Leonardo declined requests for comment from Bloomberg. Thales did not immediately respond.

Von der Leyen cited Project Bromo last month as an example of the industrial consolidation Europe needs to become a leader in the future space economy. Her public support drew criticism from some members of the European Parliament, underscoring concerns about the balance between industrial policy and competition enforcement.

The project has also encountered opposition from unions and suppliers concerned about its potential effects on employment and competition, according to Bloomberg.

Project Bromo is expected to serve as an early test of a revised EU approach to merger reviews that is more receptive to creating large regional companies capable of competing against American and Chinese businesses.

The effort reflects Europe’s broader push to strengthen its strategic independence in critical industries, including space and satellite communications. SpaceX has become a major force in the global satellite market through its Starlink network, increasing pressure on European companies and governments to develop competitive alternatives.

Whether Project Bromo can secure approval without substantial concessions remains uncertain. EU competition officials have emphasized that the venture must still satisfy the bloc’s regulatory requirements, even as European leaders push for a stronger homegrown competitor in the global space industry.