The French company is set to merge with the satellite firm pulled from bankruptcy by the UK government.
Commentators say the merger makes sense for both parties.
For OneWeb, it will benefit from having the cash-raising potential of its elder sibling. The London outfit will need money to continually update and expand its LEO constellation. "Two-thirds of the fleet is already deployed. And right now most of the satellites required to complete the constellation are actually manufactured," explained OneWeb chief executive Neil Masterson.
OneWeb has been frustrated in its efforts to roll out the Gen One satellites following its loss of access to Russian Soyuz rockets.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Eutelsat shares fall sharply after confirming OneWeb deal talks\n\t\t\tExclusive scoops\n\t\t\tSmart data to help spot risk and opportunity\n\t\t\tAnalysis of broader trends in M&A\n\t\t\tLex, our agenda-setting business commentary (Premium only)\n\t\t\tDue Diligence, an exclusive M&A newsletter (Premium only)\n\t\t
Read more »
Eutelsat to suspend dividend as it strikes deal with OneWeb\n\t\t\tExclusive scoops\n\t\t\tSmart data to help spot risk and opportunity\n\t\t\tAnalysis of broader trends in M&A\n\t\t\tLex, our agenda-setting business commentary (Premium only)\n\t\t\tDue Diligence, an exclusive M&A newsletter (Premium only)\n\t\t
Read more »
Eutelsat and OneWeb in multi-orbit mergerEutelsat and OneWeb to join forces across orbits in $3.4b merger
Read more »
The earth experienced another solar storm and there's more comingThe sun has seen a flurry of activity on its surface recently with a solar storm affecting the Earth this weekend ☀️
Read more »
Silver Lake-backed Cegid to combine with Grupo Primavera in €6.8bn deal\n\t\t\tExclusive scoops\n\t\t\tSmart data to help spot risk and opportunity\n\t\t\tAnalysis of broader trends in M&A\n\t\t\tLex, our agenda-setting business commentary (Premium only)\n\t\t\tDue Diligence, an exclusive M&A newsletter (Premium only)\n\t\t
Read more »
Mark Wright responds after ITV Love Island Luca Bish's random digLove Island star Luca Bish randomly took aim at Mark Wright
Read more »