Intelsat and OneWeb today laid out plans for a mega-merger aimed at bolstering their satellite internet services, with a $1.8 billion investment boost from SoftBank.
The arrangement is a head-turner, due to the complicated conditions of the deal as well as its ambitious objective. It comes just a couple of months after Japan-based SoftBank announced a $1 billion investment in OneWeb, which is gearing up to launch a constellation of satellites for global internet access.
“We believe that combining Intelsat with OneWeb will create an industry leader unique in its ability to provide affordable broadband anywhere in the world,” Intelsat CEO Stephen Spengler said in a news release.
Spengler is due to head the combined company, which will keep the Intelsat name and remain headquartered in Luxembourg. OneWeb’s founder and executive chairman, Greg Wyler, will be executive chairman of the combined company’s board.
SoftBank will purchase common shares in the company for $5 per share, and take a 39.9 percent voting stake. The $1.7 billion investment and a series of debt exchange offers are aimed at reducing Intelsat’s debt by up to $3.6 billion.
Full Content: Space News
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
OpenAI Board Denies Receiving Formal Bid from Elon Musk
Feb 12, 2025 by
CPI
Thomas Kauper, Former DOJ Antitrust Leader, Dies at 89
Feb 12, 2025 by
CPI
BlackRock’s Acquisition of Preqin Secures UK Regulatory Approval
Feb 12, 2025 by
CPI
NFL Sued Over Bluesky Ban by Fans Citing Antitrust Violations
Feb 12, 2025 by
CPI
Warburg Pincus Strikes $1 Billion Deal to Acquire Vermont Information Processing
Feb 12, 2025 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – International Criminal Enforcement
Jan 23, 2025 by
CPI
The Antitrust Division’s Recent Work to Combat International Cartels
Jan 23, 2025 by
Emma Burnham & Benjamin Christenson
Information Sharing: The New Frontier of U.S. Antitrust Enforcement
Jan 23, 2025 by
Brian P. Quinn, Casey Kovarik & Michael Tubach
The Key Role of Guidelines on Exchanges of Information Among Competitors and the Divergent Transatlantic Paths
Jan 23, 2025 by
Rosa Abrantes-Metz & Albert Metz
Leniency, Whistleblowers, and Compliance
Jan 23, 2025 by
Richard Powers, Tara O’Malley & Cory Gordon