Eutelsat completes OneWeb Equity investment
(08 Sep 2021) Eutelsat Communications confirmed the closing of its US$550 million equity investment in OneWeb announced on 27 April 2021. Subject to completion of the subsequently announced investments in OneWeb by Bharti and Hanwha, Eutelsat will hold a 17.6% stake.
Rodolphe Belmer, Chief Executive Officer of Eutelsat, said: "We are delighted to close this investment in OneWeb, giving us a foothold in the Low Earth Orbit segment. We look forward to working in co-operation with OneWeb as its entry into operational service fast approaches, with almost 50% of the constellation now in orbit."
Reference: Eutelsat PR