PARIS : French satellite company Eutelsat, which rejected a takeover proposal from billionaire Patrick Drahi, said it had raised its stake in London-headquartered communications network company OneWeb to 22.9per cent.
"Eutelsat Communications has exercised a call option on a portion of the latest OneWeb funding round subscribed by Bharti, for a consideration of US$165 million, taking its shareholding from 17.6per cent to 22.9per cent," it said on Wednesday. Last month, Drahi, whose business interests include auction house Sotheby's and media group Altice, made a 12.10 euros per share offer for Eutelsat, which was rejected.
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