German government forbids complete takeover of satellite startup by Chinese firm

News Snapshot:

BERLIN, Sept 13 (Reuters) - The German government on Wednesday agreed to forbid the complete takeover of satellite startup KLEO Connect by a Chinese firm, a senior government source told Reuters. Shanghai Spacecom Satellite Technology, which already has 53% of the company, wanted to acquire the 45% minority stake of German company EightyLeo. 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. This emerging space sector is increasingly considered...