Eutelsat and OneWeb Sign MOU on Merger

  • Eutelsat and key OneWeb shareholders [1] sign a Memorandum of Understanding with a view to combining Eutelsat and OneWeb in an all-share transaction.
  • Eutelsat shareholders and OneWeb shareholders [2] would each hold 50% of the Eutelsat shares
  • Compelling financial profile with:
    • Potential for double-digit revenue and EBITDA CAGR over the medium to long term;
    • Eutelsat’s strong cash flow generation providing visibility and funding to support continued expansion into the LEO market through OneWeb’s next generation of satellites;
    • Over €1.5bn potential incremental value-creation after tax (net of implementation costs) stemming from revenue, capex and cost synergies.
  • Balanced board and governance structure, to include Eutelsat’s Chairman and its CEO, OneWeb’s Chairman, and a significant number of independent directors proposed by Eutelsat and OneWeb’s shareholders, at Extraordinary General Meeting.
  • Fully backed by a strong set of strategic shareholders of both entities, including Bpifrance and Fonds Stratégique de Participations who have undertaken to vote in favour of the transaction-related resolutions at this EGM, subject to usual conditions. CMA CGM, a shareholder of Eutelsat, is also supporting the combination.
  • Representing a transformational transaction, built on the strong foundations established in April 2021 with Eutelsat’s initial investment in OneWeb, this combination creates a global leader uniquely positioned to capture the Connectivity market with complementary GEO/LEO [3] offering.
  • Combined entity strongly positioned to address the fast-growing global Connectivity market.
  • The transaction values OneWeb at $3.4bn implying a value of €12 per Eutelsat share (including the dividend, before synergies).
  • Eutelsat to propose a €0.93 per share dividend with a scrip option in respect of FY 2021-22 at its upcoming AGM. Such dividend will not impact the exchange ratio.
  • Eutelsat will continue to be listed on Euronext Paris and apply for admission to standard listing on the London Stock Exchange.


PARIS, LONDON, 26 July 2022 (Eutelsat/OneWeb PR)
 – Eutelsat Communications (Euronext Paris: ETL) and key OneWeb shareholders have signed a Memorandum of Understanding with the objective of creating a leading global player in Connectivity through the combination of both companies in an all-share transaction. Eutelsat will combine its 36-strong fleet of GEO satellites with OneWeb’s constellation of 648 Low Earth Orbit satellites, of which 428 are currently in orbit.

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OneWeb Suspends Satellite Launches From Baikonur

Soyuz rocket launches 36 OneWeb satellites from Baikonur Cosmodrome on Dec. 27, 2021. (Credit: Arianespace)

by Douglas Messier
Managing Editor

The Friday launch of 36 OneWeb broadband satellites aboard a Soyuz rocket from Baikonur Cosmodrome is officially canceled as the London-based company refused demands from the Russian government amid growing international tensions over the Russian invasion of Ukraine.

“The Board of OneWeb has voted to suspend all launches from Baikonur,” the company said in a one-sentence statement.

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Russia Holds OneWeb Satellites Hostage; No Launch Unless Company & British Government Meet Demands

Vladimir Putin receives a briefing from Roscosmos General Director Dmitry Rogozin. (Credit: Office of the Russian President)

by Douglas Messier
Managing Editor

In what is likely the first hostage drama involving communication satellites, the head of the Russian space program has demanded that the British government divest its shares in OneWeb and that the broadband satellite operator not provide services to foreign militaries in order to launch a new batch of spacecraft. The move comes amid growing tensions over Russia’s invasion of Ukraine and sanctions imposed on the country by western nations.

Roscosmos Director General Dmitry Rogozin tweeted that unless these demands are met, Russia will refuse to launch 36 OneWeb satellites that sit atop a Soyuz-2.1b rocket currently on the launch pad at the Baikonur Cosmodrome in Kazakhstan. The launch is scheduled for Saturday morning Moscow time.

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NEOM Tech & Digital Holding Company and OneWeb Sign $200 Million Joint Venture for Satellite Network

  • OneWeb Low Earth Orbit (LEO) satellites to service NEOM, the Kingdom and MEA, transforming connectivity to businesses and rural communities
  • High-speed connectivity will be a vital enabler of groundbreaking ecosystem of cognitive technologies

RIYADH, Saudi Arabia, 26 October 2021 (OneWeb PR) — NEOM Tech & Digital Holding Company – the first holding company to be established as a subsidiary of NEOM – and OneWeb, the global communications network powered from space, have signed a $200 million (SAR 750m) joint venture agreement to bring high-speed satellite connectivity to NEOM, Saudi Arabia and the wider Middle East and neighboring East African countries.

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OneWeb Announces Hanwha Systems of South Korea as Significant New Equity Partner

  • Hanwha Systems of South Korea invests USD $300m for an 8.8% share
  • Brings advanced technology capabilities to investor line-up
  • Brings OneWeb total equity investment to USD $2.7bn

LONDON, 12 August 2021 (OneWeb PR) — Hanwha, the South Korean Fortune 500, global technology and manufacturing company has announced a USD $300m equity investment by Hanwha Systems (“Hanwha”) in OneWeb, the Low Earth Orbit (LEO) satellite communications company. Hanwha brings further defence capabilities and the latest antenna technologies to OneWeb, alongside relationships to new government customers and expanded geographical reach.

This investment brings OneWeb’s total equity investment since November 2020 to USD $2.7bn with no debt issuance. The investment is expected to be completed in the first half of 2022, subject to regulatory approvals.

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OneWeb Secures $550 Million as Eutelsat Takes Significant Equity Stake in Satellite Broadband Company

  • Eutelsat investment brings OneWeb to $1.9 billion in total financing
  • Secures 80% of total financing, as latest launch puts almost 30% of Gen 1 fleet in space
  • Collaboration with Geostationary (GEO) satellite operator offers new customer opportunities
  • Eutelsat joins U.K. Government, Bharti Global and SoftBank as key investors

LONDON, 27 April 2021 (OneWeb PR) — OneWeb, the global communications network powered from space, announces today that it has secured $550 million in funding from Eutelsat Communications (Euronext Paris: ETL), bringing OneWeb’s total funding to $1.9 billion in fresh equity. This investment from one of the world’s most experienced and largest global operators is a vote of confidence in OneWeb and underscores the arrival of Low Earth Orbit (LEO) satellites into mainstream long-term growth planning for major operators.

Eutelsat, one of the world’s leading satellite operators, will receive a c.24% equity stake in OneWeb and similar governance rights to the U.K. Government and Bharti Global, making it a significant equity partner and joining leading investors including the U.K. Government, Bharti Global and SoftBank. The investment is expected to be completed in the second half of 2021, subject to regulatory approvals.

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Video: In Conversation with OneWeb’s Executive Chairman Sunil Bharti Mittal

Sunil Bharti Mittal is the Founder and Chairman of Bharti Enterprises and also Executive Chairman of OneWeb. He says: “These are exciting times and the world now has a LEO alternative to work with. We look forward to partnering with those equally determined to enter this new Space Age. There is unmet demand around the globe for broadband connectivity and we intend to continue OneWeb’s social mission. We will use our joint venture facility to drive down cost of service, opening new use cases for low latency broadband provision.”