Eutelsat sees OneWeb merger lifting annual sales to $2 billion by 2027

PARIS -Eutelsat Communications, the world's third-biggest satellite operator by revenue, said on Wednesday it expected its planned tie-up with Britain's OneWeb to lift annual sales to 2 billion euros by 2027.

The French group expects annual sales of the merged entity to amount to about 1.2 billion euros in 2023, following the finalisation of the deal. It said it expected core operating profit to rise at an even faster pace than revenue. "Overall we continue to struggle with the concept of using 'cheap' Eutelsat equity to fund such a high risk acquisition like OneWeb," JPMorgan said in a note.

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Eutelsat sees OneWeb merger boosting yearly sales to $2 billion by 2027PARIS -Eutelsat Communications, the world's third-biggest satellite operator by revenue, said on Wednesday it expected its planned tie-up with Britain's OneWeb to boost annual sales to 2 billion euros ($1.95 billion) by 2027.The merger, announced in July and closely monitored by the French and British govern
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »