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Tesla Inc CDRs (CAD Hedged)
Symbol TSLA
Shares Issued 18,150,000
Close 2025-01-06 C$ 37.42
Market Cap C$ 679,173,000
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Globe/wire say Italy's Meloni warms to Tesla's Musk

2025-01-06 07:24 ET - In the News

The Globe and Mail reports in its Monday edition that Italy is in advanced talks with Elon Musk's SpaceX over a 1.5-billion-euro deal for the company to provide secure telecommunications to the government. A Reuters dispatch to The Globe says that discussions are continuing and a final agreement on the five-year contract has not been reached, but the project has already been approved by Italy's intelligence services and Defence Ministry. The deal involves SpaceX supplying Italy with a full range of encryption for telephone and Internet services used by the government. It also includes communications services for Italy's military in the Mediterranean area and the rollout of satellite services in Italy for use in emergencies such as terrorist attacks or natural disasters. The news comes after Italian Prime Minister Giorgia Meloni said on Sunday she was ready to work with Donald Trump after making a surprise visit to his Mar-a-Lago residence in Florida to meet the U.S. president-elect before his inauguration on Jan. 20. Ms. Meloni has also forged a close relationship with the billionaire chief executive officer Musk, a close Trump ally. Italy is also about to begin tests on Mr. Musk's Starlink system for Internet.

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