EU Opposes More Cost Increases for Satellite, Handelsblatt Says

March 24 (Bloomberg) -- The European Commission isn’t prepared to accept further cost increases for the Galileo satellite project, Handelsblatt said, citing European Union Industry Commissioner Antonio Tajani.

Tajani said he met with executives from European Aeronautic Defence & Space Co., OHB Technology AG and Thales Alenia Space SAS to argue that increases beyond the 1.9 billion-euro ($2.69 billion) announced in January wouldn’t be acceptable to taxpayers, the newspaper said.

To contact the reporter on this story: Naomi Kresge in Berlin at nkresge@bloomberg.net

To contact the editor responsible for this story: Phil Serafino at pserafino@bloomberg.net