Eutelsat, OneWeb merge to create world’s first GEO-LEO satellite space connectivity co; Bharti Enterprises largest shareholder


Eutelsat and OneWeb have on Thursday efficiently accomplished their merger, forming the world’s first geostationary-low earth orbit (GEO-LEO) satellite space connectivity firm. This merger of Eutelsat Communications’ all-share mixture with OneWeb was confirmed after Eutelsat shareholders, at an Ordinary and Extraordinary General Meeting, gave their approval, in accordance to an announcement by Bharti Enterprises.
The newly established entity, headquartered in Paris, may have Bharti Enterprises as its main shareholder, proudly owning 21.2 per cent of the shares. The Bharti Group in its assertion has affirmed its dedication to serving as a long-term strategic investor within the Eutelsat Group.
Sunil Bharti Mittal, the founder and chairman of Bharti Enterprises, acknowledged, “Today we have created a company, which will bring connectivity to all people around the world and will help us achieve our mission of last-mile connectivity.”
In the management roles, Sunil Bharti Mittal will assume the place of Vice President (Co-Chair), whereas Shravin Bharti Mittal, liable for the OneWeb investing, taking it out of Chapter 11, will function the Director on Eutelsat’s Board. Akhil Gupta will preserve his position as a Director on OneWeb’s Board, now working as a wholly-owned subsidiary of Eutelsat, the assertion stated.

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OneWeb will commercially function as Eutelsat OneWeb with its centre of operations persevering with to be in London. The firm is listed on the Euronext Paris Stock Exchange, with a pending customary itemizing utility on the London Stock Exchange.
The newly named Eutelsat Group has emerged because the first GEO-LEO built-in satellite group, with an intention to revolutionize space communications and tackle the burgeoning connectivity market.
According to a Reuters report, the shares of French satellite firm Eutelsat, which is the third-biggest satellite operator by income on the earth, shot up by 6% after the merger was introduced.
The settlement, which was first introduced in July 2022, aimed to set up a recent competitor within the satellite web trade, competing with entities resembling Elon Musk owned SpaceX’s Starlink and Amazon’s Project Kuiper.

Nilesh Desai
Nilesh Desai
The Hindu Patrika is founded in 2016 by Mr. Nilesh Desai. This website is providing news and information mainly related to Hinduism. We appreciate if you send News, information or suggestion.


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