OneWeb and Eutelsat sign merger deal
Capitalism in space: OneWeb and Eutelsat today confirmed stories during the past few days to announce today that the two companies have signed a merger agreement.
Eutelsat Communications (Euronext Paris: ETL) and key OneWeb shareholders have signed a Memorandum of Understanding with the objective of creating a leading global player in Connectivity through the combination of both companies in an all-share transaction. Eutelsat will combine its 36-strong fleet of GEO satellites with OneWeb’s constellation of 648 Low Earth Orbit satellites, of which 428 are currently in orbit.
The deal still needs regulatory approval, but if this is granted it should be finalized by the first half of ’23.
Capitalism in space: OneWeb and Eutelsat today confirmed stories during the past few days to announce today that the two companies have signed a merger agreement.
Eutelsat Communications (Euronext Paris: ETL) and key OneWeb shareholders have signed a Memorandum of Understanding with the objective of creating a leading global player in Connectivity through the combination of both companies in an all-share transaction. Eutelsat will combine its 36-strong fleet of GEO satellites with OneWeb’s constellation of 648 Low Earth Orbit satellites, of which 428 are currently in orbit.
The deal still needs regulatory approval, but if this is granted it should be finalized by the first half of ’23.