Intesa Sanpaolo Invests In Elon Musk's SPACEX

(RTTNews) - Italian banking group Intesa Sanpaolo S.p.A. (ISNPY.PK),said on Friday that it has invested in Elon Musk's Space Exploration Technologies Corp or SpaceX.

"Intesa Sanpaolo believes the aerospace sector can play a crucial role in driving the development and growth of the world's economies. That's why the Group has chosen to invest in a company that has shown a cutting-edge vision for the future," the bank said in a statement.

The financial details of the investment are not known.

SpaceX, is developing Starship a next generation of fully reusable launch vehicles that is capable of carrying humans to Mars and other destinations in the solar system.

Currently, shares of Intesa are trading at 2.40 euro up 1.67% in Milan.