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.
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