France's Eutelsat In Merger Talks With UK Satellite Operator

By Najiyya Budaly (July 25, 2022, 1:27 PM BST) -- French satellite operator Eutelsat said on Monday that it is in talks to buy rival U.K. company OneWeb in a share deal to create a larger, world-spanning firm.

Eutelsat SA, the third-largest satellite operator in terms of revenue, said that shareholders in each company would hold 50% of the combined group. Shareholders in OneWeb, which is based in west London on the site of the old BBC TV studios, would tender their shares to the French company for newly issued Eutelsat shares.

No financial terms were disclosed, but OneWeb was valued at $3.4 billion in its most recent funding round. Eutelsat...

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