A PYMNTS Company

UK Satellite Operator OneWeb In Merger Talks

By  |  September 26, 2022

French satellite company Eutelsat said it was in talks about a possible all-stock merger with British rival OneWeb. Eutelsat’s statement on Monday said two sources close to the talks told Reuters over the weekend, which was valued at $3.4 billion in its latest funding round, said it was ready to acquire OneWeb, in which Eutelsat already owns a 23% stake.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    “Following recent market rumors, Eutelsat Communications has confirmed that it has entered into discussions with fellow OneWeb shareholders regarding a potential all-stock combination to create his leader in global connectivity.”

    We’d love to be your preferred source for news.

    Please add us to your preferred sources list so our news, data and interviews show up in your feed. Thanks!

    Add as Preferred Source

    But the merger would be politically sensitive as it would bring together Indian billionaire Sunil Bhatti Mittal and France, China and the UK as shareholders in the combined group. In a report, Credit Suisse said:

    “From an antitrust perspective, the deal is likely to be subject to close scrutiny, and it is likely that there will be political consensus from both the UK and the EU when the UK elects a new prime minister. Eutelsat estimates that the ‘satellite connectivity’ market will be worth about $16 billion by 2030.

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.