06:34 AM EDT, 03/10/2025 (MT Newswires) -- Italian defense and aerospace firm Leonardo replaced Bank of America ( BAC ) with Germany's Deutsche Bank ( DB ) in recent weeks to advise on its efforts to create a new European space and satellite entity, Bloomberg News reported, citing people familiar with the matter.

Deutsche Bank ( DB ) will help Leonardo in discussions with plane maker Airbus and French aerospace firm Thales regarding combining their space and satellite operations, the unnamed sources told Bloomberg.

Representatives for Leonardo, BofA and Deutsche Bank ( DB ) declined to comment, according to Bloomberg.

Representatives for Leonardo, Bank of America ( BAC ), and Deutsche Bank ( DB ) did not immediately respond to MT Newswires' request for comment.

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