Elon Musk confirms he is considering merging Tesla and SpaceX

Elon Musk has said he is actively considering merging Tesla and SpaceX, his two biggest companies.

"Do I think it would be a good idea? Yes," Musk said during a call with financial analysts to discuss SpaceX's latest results on Tuesday.

While Musk noted it could not be assumed a merger will go ahead, and it would need shareholders' support, he said special committees within both companies had been formed to examine the move.

"The special committees have not reached agreement on terms of any transaction and there's no guarantee that they will," he said. "But I do think there is a lot of merit to merge and a lot to be gained."

With Tesla valued at roughly $1.5 trillion (£1.1 trillion) and SpaceX at $2 trillion, a combination of the two companies would mark one of the largest mergers in history.

SpaceX builds space rockets as well as Starlink internet satellites and provides a secured satellite network for governments, including the US, through its Starshield business.

That part of the business is currently facing scrutiny over claims Ukraine's access to the network has been limited, leaving it vulnerable to deadly strikes by Russia.

Source: BBC News World RSS (Open Press / Translated Full Text)