Ibadan, 28 September 2023 – Eutelsat Communications SA, one of the world’s satellite operators, have announced the completion of its all-share combination with OneWeb, the global low Earth orbit (LEO) satellite communications network, following the approval at the Ordinary and Extraordinary General Meeting of Eutelsat shareholders. Furthermore, this combination forms the Eutelsat Group, headquartered in Paris. In addition, OneWeb will be a subsidiary operating commercially as Eutelsat OneWeb, with its center of operations remaining in London.
Furthermore, the Company remains listed on the Euronext Paris Stock Exchange and has applied for standard listing on the London Stock Exchange. With OneWeb’s network already active and set to be globally operational by the end of 2023, the combined GEO-LEO service will open up new markets and applications for customers, including Fixed Connectivity (Backhaul, Corporate networks), Government Services and Mobile Connectivity (Maritime and Inflight). Broadcast and video services will remain integral to Eutelsat Group’s business and continue to deliver innovative services for customers, including new IP native video services, at the convergence of broadband and broadcast.
Dominique D’Hinnin, Chairman of the Board of Directors, stated: “This is a historic moment for the satellite industry. We are bringing together two businesses that are at the forefront of delivering integrated, seamless, and reliable connectivity to customers worldwide. We will be moving fast to accelerate the growth of the combined business. D’Hinnin further stated, “With the support of strategic shareholders of both entities, we are confident of maximizing financial performance and operational excellence while capitalizing on the high-return investment of next-generation satellites.”