Eutelsat Closes on OneWeb Transaction

Eutelsat closed on its all-stock takeover of OneWeb, following Eutelsat shareholder approval, it said Friday. OneWeb will be a Eutelsat subsidiary, it said. Eutelsat said its geostationary constellation paired with OneWeb's low earth orbit constellation -- set to offer global coverage by year's end -- opens up various fixed and mobile connectivity markets and applications. "We can address a wider range of customer requirements and provide hybrid connectivity services where they are required worldwide," CEO Eva Berneke said. "The Eutelsat-OneWeb combination has given us the scale, financial strength, and business proposition to capitalise on the significant opportunity.” The deal is considered unlikely to face big regulatory headwinds in the U.S. (see 2207250041) and got FCC Space Bureau approval last month (see 2308040051).