PARIS : French satellite company Eutelsat said it was in talks with British rival OneWeb over a possible merger deal, which would help both companies challenge the likes of Elon Musk-owned SpaceX's Starlink and Amazon.com's Project Kuiper.
The talks were based around a transaction that would result in Eutelsat and OneWeb shareholders each holding 50 per cent of the new, combined entity, while there were no assurances that the talks would result in any final agreement, added Eutelsat. The tie-up is also politically sensitive, as it would bring Indian billionaire Sunil Bharti Mittal, France, China and Britain together as shareholders of the combined entity.
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