French satellite operator Eutelsat said Monday it is in talks with British counterpart OneWeb for a possible tie-up to become a global champion in broadband internet, rivalling US operators such as SpaceX’s Starlink.<\/p>\n
“Following recent market rumours, Eutelsat Communications confirms that it has engaged in discussions with its co-shareholders in OneWeb regarding a potential all-share combination to create a global leader in connectivity,” the French company said in a statement.<\/p>\n
Eutelsat, which specialises in geostationary Earth orbit (GEO) with a fleet of 35 satellites positioned at an altitude of 36,000 kilometres (22,400 miles) for satellite internet services, already holds a stake of 23 percent in OneWeb.<\/p>\n
OneWeb, for its part, has deployed 428 out of a total 648 so-called “low Earth orbit” (LEO) satellites, operating at an altitude of several hundred kilometres.<\/p>\n
The combined entity “would be the first multi-orbit satellite operator offering integrated GEO and LEO solutions and would be uniquely positioned to address a booming satellite connectivity market”, that is expected to grow to $16 billion by 2030, Eutelsat said.<\/p>\n
“OneWeb is one of the two only global LEO networks and has experienced strong momentum over recent months, with service expected to be fully deployed in 2023.”<\/p>\n
The transaction would represent a “logical next step in the successful partnership between Eutelsat and OneWeb,” the statement said.<\/p>\n
Under the terms of the transaction being discussed, Eutelsat and OneWeb shareholders would each hold 50 percent of the combined group’s shares.<\/p>\n
The transaction would be structured in such a way that OneWeb’s shareholders would exchange their shares in OneWeb for newly issued Eutelsat shares.<\/p>\n
Any combination would be subject to, among other conditions, approval by the requisite majority of Eutelsat shareholders and receipt of all relevant antitrust and regulatory approvals.<\/p>\n
“There can be no assurance that these discussions will result in any agreement. Eutelsat will inform the market as soon as soon as there are any new developments,” it said.<\/p>\n","protected":false},"excerpt":{"rendered":"
French satellite operator Eutelsat said Monday it is in talks with British counterpart OneWeb for a possible tie-up to become a global champion in broadband internet, rivalling US operators such as SpaceX’s Starlink. “Following recent market rumours, Eutelsat Communications confirms that it has engaged in discussions with its co-shareholders in OneWeb regarding a potential all-share combination to create a global leader in connectivity,” the French company said in a statement. Eutelsat, which specialises in geostationary Earth orbit (GEO) with a fleet of 35 satellites positioned at an altitude of 36,000 kilometres (22,400 miles) for satellite internet services, already holds a […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[8],"tags":[],"class_list":["post-799366","post","type-post","status-publish","format-standard","hentry","category-telecom"],"acf":[],"_links":{"self":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/799366","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/comments?post=799366"}],"version-history":[{"count":0,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/799366\/revisions"}],"wp:attachment":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/media?parent=799366"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/categories?post=799366"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/tags?post=799366"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}