Eutelsat said the combined firm would be the first multi-orbit satellite operator offering both low-Earth orbit (LEO) and geostationary orbit communication services and would be “uniquely positioned” to take advantage of the satellite connectivity market.
OneWeb commenced launches of its satellite constellation – a network of more than 650 LEO satellites designed for internet services – in February 2019.
The UK government bought a stake in the firm in 2020 when it entered bankruptcy after failing to raise the requisite capital to complete the build and deployment of the remaining 90 per cent of the network.
The purchase was seen as a means to expand the UK’s space industry, following its withdrawal from the EU and its Galileo project. The OneWeb service is finally expected to be fully deployed in 2023.
Eutelsat currently holds 23 per cent of shares in OneWeb, alongside Indian conglomerate Bharti Enterprises which owns 38 per cent and the UK government...