Eutelsat Cmnctin - ETCMY STOCK NEWS

Eutelsat Communications CEO Rodolphe Belmer has announced his intention to resign at the beginning of 2022 after successfully leading the company since March 2016. During his tenure, he focused on operational and financial discipline, steering Eutelsat towards opportunities in the connectivity sector. The board will begin the search for his successor immediately, while Belmer will remain in his role to support ongoing development. Chairman Dominique D’Hinnin praised Belmer’s contributions, emphasizing the company's solid strategic foundation.

Eutelsat Communications and TVN S.A. have signed a multi-year agreement to enhance broadcasting services in Poland via Eutelsat's HOTBIRD satellite. This partnership, which dates back to the 1990s, will provide incremental in-orbit resources to support TVN's growth, improving service quality. Eutelsat's HOTBIRD at 13° East is noted for its extensive coverage in Europe. The introduction of two next-generation HOTBIRD satellites in 2022 is expected to further optimize the service, reinforcing Eutelsat's position in the Polish broadcasting market.

Deutsche Telekom has partnered with Eutelsat to distribute high-speed satellite broadband through the EUTELSAT KONNECT satellite, targeting households in Germany with limited internet access. Starting from late 2021, the service aims to enhance broadband connectivity, particularly in areas affected by July floods. The satellite, operational since November 2020, provides speeds up to 100 Mbps and a capacity of 75 Gbps, covering Germany and 14 other European countries. This agreement highlights the potential of satellite technology to support telcos in expanding service reach.

Eutelsat Communications has increased its stake in OneWeb to 22.9% by exercising a call option worth $165 million. This positions Eutelsat as the second largest shareholder behind Bharti, which holds 30%. The investment follows a successful launch of nearly half of OneWeb's satellite constellation and numerous distribution partnerships ahead of its partial entry into service by the end of 2021. Eutelsat's financial position remains strong with €1.9 billion in liquidity as of June 30, 2021.

Eutelsat Communications has signed a multi-year, multi-Gbps wholesale capacity agreement with Globacom in a ceremony attended by French President Emmanuel Macron. This deal allows Globacom to expand its service coverage in Nigeria using the EUTELSAT KONNECT satellite, targeting unconnected and underserved areas. EUTELSAT KONNECT enables high-speed broadband connectivity, contributing to bridging Africa's digital divide. Globacom is Nigeria's second-largest telecom with a 28% market share and over 51 million subscribers, enhancing its infrastructure with this satellite service.

Eutelsat Communications has unanimously rejected a proposal from Patrick Drahi, pricing the company's shares at 12.10 euros, inclusive of dividends. This decision reflects the governance bodies' assessment of the offer's appropriateness. Eutelsat, a leading satellite operator founded in 1977, services various markets, broadcasting approximately 7,000 television channels to over one billion viewers globally. The firm aims to maintain high service quality as it continues to operate a global fleet of satellites.

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.

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.

On September 7, 2021, Hughes Network Systems was selected by Eutelsat Communications to provide its JUPITER System Series 3 for the new EUTELSAT KONNECT VHTS satellite, set to launch in 2022. This satellite will enhance connectivity across Europe with advanced broadband and mobility services. Hughes will design and supply gateways, end-user terminals, and a network management system, ensuring efficient capacity utilization. The agreement builds on Hughes' success with the EUTELSAT KONNECT satellite launched in 2020, reinforcing its position in the satellite communication industry.