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Eutelsat and OneWeb agreed to merge their businesses to create a global multi-orbit satellite broadband operator.
The transaction will be subject to clearance from relevant regulatory authorities and to approval by Eutelsat shareholders at an Extraordinary General Meeting to take place by the end of the first half of 2023.
Existing OneWeb shareholders would receive 230 million newly issued Eutelsat shares representing 50% of Eutelsat’s enlarged share capital.
The Connectivity market segments targeted by Eutelsat and OneWeb are forecast to grow by three times for B2B and five times for B2C over the next decade to reach a combined value of circa $16,000,000,000 by 2030.
A contemplated shareholder agreement between key Eutelsat and OneWeb shareholders would provide rights to propose directors based on shareholding thresholds (1 director if at least 7.5%, 2 directors if at least 15%) and include a 6-month lock-up period.
Eutelsat will combine its 36-satellite geostationary (GEO) fleet with OneWeb’s 648-satellite low Earth orbit (LEO) constellation.
Eutelsat acquired an equity stake in OneWeb in April 2021.
OneWeb shareholders would receive 230 million newly issued Eutelsat shares representing 50% of Eutelsat’s enlarged share capital on the basis of Eutelsat share capital as of this writing.
French geostationary operator Eutelsat plans to merge with U.K.-based LEO broadband operator OneWeb through a proposed all-share transaction.
OneWeb shareholders would receive 230 million newly issued Eutelsat shares representing 50% of the enlarged Eutelsat share capital.
Eutelsat will combine its 36 GEO satellites with OneWeb’s planned constellation of 648 LEO satellites, of which 428 are currently on-orbit.
Eutelsat acquired an equity stake in OneWeb in April 2021 and entered a global distribution agreement with OneWeb in March 2022.
Eutelsat and OneWeb signed an exclusive commercial partnership addressing mainly the European and global cruise markets on 2022-07-26.
The transaction will be subject to regulatory clearance and approval by Eutelsat’s shareholders at an Extraordinary General Meeting to take place by the end of the first half of 2023.
Eutelsat acquired an equity stake in OneWeb in April 2021.
Eutelsat will combine its 36-strong fleet of geostationary (GEO) satellites with OneWeb’s constellation of 648 low Earth orbit (LEO) satellites.
EUTELSAT KONNECT VHTS offers seven times the capacity of the EUTELSAT KONNECT satellite launched in 2020.
EUTELSAT KONNECT VHTS will deliver 230 beams over Western Europe.
Eutelsat reported 1,150,000,000 EUR in revenues for the year to the end of June, down 6.7% compared with the prior year period.
Eutelsat operates 36 satellites in geostationary orbit.