France's Eutelsat close to deal for UK satellite operator OneWeb -sources

LONDON/PARIS :French satellite company Eutelsat is poised to buy British rival OneWeb in a deal that could be announced as early as Monday, two sources close to the negotiations said on Sunday.

The merger of the two companies would strengthen their position in the race to build a constellation of low-orbit satellites, challenging the likes of Elon Musk-owned SpaceX's Starlink and Amazon.com Inc's Project Kuiper. The tie-up is politically sensitive, as it would bring Indian billionaire Sunil Bharti Mittal, France, China and Britain together as shareholders of the combined entity. Bharti Global is OneWeb's biggest shareholder.

OneWeb, for its part, was rescued from bankruptcy by the British government and India's Bharti Global. The takeover will leave the British government with a minority stake in the merged business, one of the sources said.

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Eutelsat close to deal for UK satellite operator OneWeb -sourcesLONDON/PARIS : French satellite company Eutelsat is poised to buy British rival OneWeb in a deal that could be announced as early as Monday, two sources close to the negotiations said on Sunday. The combination of the two companies would strengthen their position in the race to build a constellation of lo
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Eutelsat close to deal for UK satellite operator OneWeb -sourcesLONDON/PARIS : French satellite company Eutelsat is poised to buy British rival OneWeb in a deal that could be announced as early as Monday, two sources close to the negotiations said on Sunday. The combination of the two companies would strengthen their position in the race to build a constellation of lo
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »