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Eutelsat Communications (Euronext Paris: ETL) has received an unsolicited and non-binding proposal from Patrick Drahi regarding a potential transaction concerning the company’s share capital. The governance bodies of Eutelsat unanimously decided not to pursue the proposal based on its terms. Eutelsat is a leading satellite operator with a global fleet serving various markets including Video, Data, and Broadband, broadcasting around 7,000 television channels to one billion viewers worldwide.
Positive
Eutelsat remains a leading satellite operator with a strong global presence.
The company broadcasts approximately 7,000 television channels to a vast audience.
Negative
Eutelsat's governance has rejected a potentially lucrative offer, which may indicate limited interest from strategic investors.
PARIS--(BUSINESS WIRE)--
Regulatory News:
Pursuant to market rumours, Eutelsat Communications (Euronext Paris: ETL) confirms that it has received an unsolicited, preliminary and non-binding proposal from Patrick Drahi in connection with a potential transaction on all of the company’s share capital. The relevant governance bodies of Eutelsat Communications have unanimously decided not to engage in discussions based on the terms of this proposal.
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. Eutelsat Communications is listed on the Euronext Paris Stock Exchange (ticker: ETL).
What was the recent proposal made to Eutelsat Communications?
Eutelsat received an unsolicited, preliminary, and non-binding proposal from Patrick Drahi regarding a potential transaction on the company's share capital.
How did Eutelsat's governance respond to the unsolicited proposal?
Eutelsat's governance bodies unanimously decided not to engage in discussions based on the terms of the proposal.
What markets does Eutelsat operate in?
Eutelsat operates in Video, Data, Government, Fixed and Mobile Broadband markets.
How many television channels does Eutelsat broadcast?
Eutelsat broadcasts around 7,000 television channels to one billion viewers.
