Recently, it was reported that French satellite service provider Eutelsat SANews of acquisition of British satellite service provider OneWebLater, both sides confirmedWill be mergedThe transaction still needs to be approved by Eutelsat SA shareholders and regulatory authorities, and is expected to be completed in mid-2023.
The merger transaction between the two parties will be carried out in the form of share exchange. Each party will hold 50% of the shares of the merged new company. In the future, the new company will continue to operate under the name of Eutelsat SA.
Currently, Eutelsat SA has launched 36 geostationary orbit satellites, which have the advantage of high coverage. However, due to their distance from the ground, there will be connection delay issues. After merging with OneWeb, it will be able to solve the delay problem with its low-orbit satellites, which means that the services of the two will be able to achieve complementary effects.
The new company will be led by Eutelsat SA's current chairman, Dominique D'Hinnin, and chief executive, Eva Berneke, while Sunil Bharti Mittal, owner of OneWeb's largest shareholder, Bharti Global Group and India's richest man, will serve as co-chairman of the new company.
