Eutelsat announces that it will acquire a 24% stake in OneWeb. This will represent an investment of $ 550 million. The transaction should be finalized in the second half of the year.
He thus joined the board of directors alongside the British government and the Indian group Bharti Global, which took over the company. OneWeb had come close to bankruptcy after leaving Softbank last year. The influx of this new money allows it to secure its funding.
Have it both ways
The French operator had until then made a specialty of geostationary satellites in orbit 36,000 km above the Earth. It is therefore diversifying with the low orbit constellation OneWeb, which is due to launch its Internet access service in the Arctic regions before the end of the year and aims for global coverage by 2022.
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Eutelsat will take advantage of both formulas. It will reap the benefits of this new type of offer proposed by OneWeb, similar to that of its rival Starlink and which promises less latency. But it will also continue to benefit from the more traditional one provided by geostationary satellites such as Eutelsat Connect and in the future Konnect VHTS. They are dedicated to ensuring the capacity of the Nordnet subsidiary of Orange in France.