Eutelsat Communications has completed a $550 million equity investment in OneWeb, increasing its stake to 17.6%. This investment was initially announced on April 27, 2021. CEO Rodolphe Belmer expressed enthusiasm about this strategic move into the Low Earth Orbit segment, highlighting that nearly 50% of OneWeb's satellite constellation is now operational. Eutelsat's long-standing experience in satellite operations will support collaboration with OneWeb as it approaches full operational service.
Positive
Eutelsat's investment of $550 million enhances its strategic positioning in the Low Earth Orbit segment.
The completion of the investment increases Eutelsat's ownership in OneWeb to 17.6%.
CEO Rodolphe Belmer's statement indicates strong confidence in the operational readiness of OneWeb's constellation.
Negative
None.
Insights
Analyzing...
PARIS--(BUSINESS WIRE)--
Regulatory News:
Eutelsat Communications (Euronext Paris: ETL) confirms the closing of its $550m equity investment in OneWeb announced on April 27, 2021. Subject to completion of the subsequently announced investments in OneWeb by Bharti and Hanwha, Eutelsat will hold a 17.6% stake.
Rodolphe Belmer, Chief Executive Officer of Eutelsat, said: “We are delighted to close this investment in OneWeb, giving us a foothold in the Low Earth Orbit segment. We look forward to working in co-operation with OneWeb as its entry into operational service fast approaches, with almost 50% of the constellation now in orbit.”
About Eutelsat Communications Founded in 1977, Eutelsat Communications is one of the world's leading satellite operators. With a global fleet of satellites and associated ground infrastructure, Eutelsat enables clients across Video, Data, Government, Fixed and Mobile Broadband markets to communicate effectively to their customers, irrespective of their location. Around 7,000 television channels operated by leading media groups are broadcast by Eutelsat to one billion viewers equipped for DTH reception or connected to terrestrial networks. Headquartered in Paris, with offices and teleports around the globe, Eutelsat assembles 1,200 men and women from 50 countries who are dedicated to delivering the highest quality of service.
An email has been sent to your address with instructions for changing your password.
There is no user registered with this email.
Sign Up
To create a free account, please fill out the form below.
Thank you for signing up!
A confirmation email has been sent to your email address. Please check your email and follow the instructions in the message to complete the registration process. If you do not receive the email, please check your spam folder or contact us for assistance.
Welcome to our platform!
Oops!
Something went wrong while trying to create your new account. Please try again and if the problem persist, Email Us to receive support.
