DECRYPTION – The French satellite operator merges with OneWeb and aims to participate in the future European constellation.
Europe is taking a giant step towards becoming a world leader in space internet. And do not give up in the face of the irresistible rise in power of Starlink, the high-speed internet constellation of the American SpaceX, owned by Elon Musk, which already has more than 2,300 satellites in service, out of 12,000. And tomorrow from Kuiper, the constellation of Jeff Bezos, the founder of Amazon. This, by giving birth to the world’s leading multi-orbit player, born of the merger between the French Eutelsat, the world’s third largest telecom satellite operator, with Oneweb, which pilots the constellation of the same name, in which it is already a 23% shareholder. The two companies announced on Tuesday that they had signed a memorandum of understanding with a view to finalizing this merger by the end of the first half of 2023. This, once obtained the green lights from the competition authorities and the general meeting of Eutelsat shareholders.
The transaction provides for an exchange of OneWeb shares held by the other shareholders…