Intesa Sanpaolo invests in SpaceX

Italy’s biggest bank Intesa Sanpaolo said on Friday it had decided to invest in US billionaire Elon Musk’s space company SpaceX.

Intesa Sanpaolo recognizes “the aerospace sector as having a particularly important role in the development of world economies and has therefore decided to invest in a player that has demonstrated a cutting-edge vision of the near future”, the bank said in a statement.

The size of the investment was not disclosed. Reuters