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.”

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Tags: eutelsat, Low Earth Orbit, OneWeb