Satellite operator Eutelsat Communications has confirmed the closing of its $550 million €455.4m) equity investment in Low Earth Orbit service OneWeb announced on April 27th, 2021. Subject to completion of the subsequently announced investments in OneWeb by Bharti and Hanwha, Eutelsat will hold a 17.6 per cent stake.

“We are delighted to close this investment in OneWeb, giving us a foothold in the Low Earth Orbit segment,” declared Rodolphe Belmer, Chief Executive Officer of Eutelsat. “We look forward to working in co-operation with OneWeb as its entry into operational service fast approaches, with almost 50 per cent of the constellation now in orbit.”

Other posts by :

1. Eutelsat shares rebound
2. Zombies; channels, ads, viewers
3. Analyst: How disruptive could Starlink be?
4. Bank: AST SpaceMobile has 2 year head start on Starlink
5. SpaceX wraps IPO; 8,000 launches by 2030
6. Markets braced for SpaceX IPO
7. Former SpaceX exec to build ‘space taxis’
8. Eutelsat shares crash despite good news
9. Analyst: Years of subs growth ahead for Starlink

Categories: Articles, Broadband, Business, Funding, M&A, Satellite

Tags: eutelsat, Low Earth Orbit, OneWeb