Eutelsat Ups Stake in OneWeb

Eutelsat plans to increase its stake in OneWeb, from 17.6% to 22.9% in exchange for $165 million, it said Wednesday. It said the deal should close by year's end. Eutelsat CEO Rodolphe Belmer said OneWeb's progress in offering global service, "together with the vote of confidence demonstrated by the commitment of both its investors and future customers, makes us even more convinced of OneWeb’s right-to-win in the low earth orbit constellation segment.”