Rheinmetall, OHB discuss German military satellite project

The collaboration talks, first reported by the Financial Times, come amid a consolidation drive in the European satellite industry. The continent's top three space firms in October (optimistically) agreed to combine their satellite businesses to better compete with Elon Musk's dominant Starlink.

The tie-up plans by Airbus, Thales and Leonardo have prompted OHB to complain it could get sidelined by the deal.

OHB shares surged more than 30 per cent to a record high as of 14:36 GMT.

Rheinmetall declined to comment while the German defence ministry said it would disclose procurement projects only after parliamentary clearance.