Eutelsat increases its stake in OneWeb

The European satellite operator Eutelsat Communications will invest 165 additional million dollars in OneWeb. A second investment which should be finalized by the end of this year.

Last April, Eutelsat surprised by announcing an initial investment of 550 million dollars in OneWeb, which deploys a constellation of satellites in low orbit for high-speed Internet access. More than half of the fleet has been put into orbit.

After the finalization of the second investment, Eutelsat will hold 22, 9% of the capital of OneWeb against 17, currently 6%. A position of second shareholder behind the Indian group Bharti (30%) which had saved OneWeb from bankruptcy with the British State.

oneweb

The remarkable progress made by OneWeb with a view to the imminent commissioning of its fleet, all as the confidence shown in it by its investors and future customers confirms us in the idea that OneWeb has all the assets to impose itself in the segment of constellations of satellites in low orbit “, declares Rodolphe Belmer, CEO of Eutelsat.

Particularly owner of SFR with Altice, Patrick Drahi expressed his interest in Eutelsat Communications with an unsolicited takeover bid which was rejected.

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