Bloomberg Anywhere Remote Login Bloomberg Terminal Request a Demo

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Galileo Needs Extra Financing of EU1.5 Billion, Le Monde Says

June 25 (Bloomberg) -- The European Union’s Galileo satellite navigation project needs financing of 1.5 billion euros ($1.85 billion), on top of the already budgeted 3.4 billion euros, to become operational in 2013, Le Monde reported.

The French newspaper cited an estimate that it says was recently sent by the European Commission to the European Parliament.

The Italian commissioner in charge of the project, Antonio Tajani, declined to confirm the figure, saying the amount of the extra funding needed won’t be determined until September, Le Monde reported.

Link to Company News:{EAD FP <Equity> CN <GO>} Link to Company News:{HO FP <Equity> CN <GO>} Link to Company News:{OHB GR <Equity> CN <GO>}

To contact the editor responsible for this story: David Whitehouse at dwhitehouse1@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.