Financial Times FT.com

EU agrees €3.4bn Galileo deal

By Andrew Bounds in Brussels

Published: November 30 2007 09:35 | Last updated: November 30 2007 23:52

European nations on Friday finally agreed to build a €3.4bn ($5bn, £2.4bn) satellite navigation system that officials claim will give the EU “strategic independence” from the US.

Ministers approved a design framework and funding for the Galileo project, which will rival GPS, the US-owned global navigation system, after five years’ delay.

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