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    Home > Finance > Italy plans $1.5 billion SpaceX telecom security services deal, Bloomberg News reports
    Finance

    Italy plans $1.5 billion SpaceX telecom security services deal, Bloomberg News reports

    Published by Global Banking & Finance Review®

    Posted on January 5, 2025

    1 min read

    Last updated: January 27, 2026

    This image depicts Italy's Prime Minister Giorgia Meloni, emphasizing the government's demand for transparency from UniCredit regarding its takeover bid for Banco BPM. The article explores the implications of golden power rules in the finance sector.
    Italy's Prime Minister Meloni discusses UniCredit's BPM bid - Global Banking & Finance Review
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    Quick Summary

    Italy is negotiating a $1.5 billion deal with SpaceX for secure telecom services, focusing on top-level encryption for government use.

    Italy Close to Securing $1.5 Billion SpaceX Telecom Deal

    (Reuters) - Italy is in advanced talks with Elon Musk's SpaceX for a deal to provide secure telecommunications for the government, Bloomberg News reported on Sunday.

    Italian officials have been negotiating on a 1.5 billion euros ($1.55 billion) deal aimed at supplying Italy with a full range of top-level encryption for telephone and Internet services used by the government, the report said, citing people with knowledge of the matter.

    ($1 = 0.9708 euros)

    (Reporting by Harshita Meenaktshi in Bengaluru; Editing by Andrew Heavens)

    Key Takeaways

    • •Italy is in advanced talks with SpaceX.
    • •The deal is valued at 1.5 billion euros.
    • •It aims to provide secure telecom services.
    • •Focus is on top-level encryption for government use.
    • •Bloomberg News reported the ongoing negotiations.

    Frequently Asked Questions about Italy plans $1.5 billion SpaceX telecom security services deal, Bloomberg News reports

    1What is the main topic?

    The main topic is Italy's negotiations with SpaceX for a $1.5 billion telecom security services deal.

    2What services are included in the deal?

    The deal includes secure telecommunications services with top-level encryption for the Italian government.

    3Who reported the news?

    Bloomberg News reported the ongoing negotiations between Italy and SpaceX.

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